Nifty Prediction : Pressure on upper levels |Global cues/local news Imp.

Daily Forecast – Share Market – April 21st, 2020

Pressure on upper levels |Global cues/local news Imp.

Sun, Moon, Ketu with Mercury will be controlling the day with Saturn and Rahu. Indications for the global cues may not be decent, but certain sectors due to results (expectations) may be giving impact for the day in local market.

Even then impact of crude may be negative for the globe, indicates story of consumption. Which may give hard impact on Oil producing nations or the nations, who are totally based on crude oil. Indirect impact can be seen in coming period for IT or related sectors, for those companies who are working in such countries.

Indicating demands in the market for other products also. So, long investors must be watchful for long term, because of global lockdown. Production as well consumption + income is not seen or may give impact on market. Intraday traders can trade accordingly, but long investors – tough time for them will not be surprising. Transit of Rahu is not easy for next two years (for India). Stressful/strenuous period ahead.

IT may be doing bit better, but pressure on banks will not surprising. Logistics may start showing movements, along with automobile tyres, parts manufacturers like bearing etc.

Pharmaceuticals, healthcare, leather, textiles, paper, infrastructure material, paint and related segments like tar etc. may be doing better. Sugar, alcohol and related segments may remain active. Tea, coffee and rubber-based segments may also remain active.

Selling from upper levels and buying from lower is possible.

Indian Currency

Indian Rupee may trade in between 76.10 to 77.00 per USD.

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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.

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