Nifty Prediction : Nifty may try for look new levels | Profit booking on Upper levels possible

Daily Forecast – Share Market – October 18th, 2021

Nifty may try for look new levels | Profit booking on Upper levels possible

Mars with Moon is leading the day, well supported by Saturn, Sun, Mercury and Jupiter. Importantly, Mercury and Jupiter will start transiting direct today. Lord of share market in own house and sign, importantly will start transiting direct after the market hours. That means, during the market session, speed for us will be slow. But will be protecting own house and in coming period strength of the market and banks will be improving. From last trading session, planetary position is changed a lot.

I feel that market may be looking with healthy approach for the day. Possibly, impact of Global situation will also be supporting our market and some unknown factors (which can be risky at any stage).

China’s issue with real estate, because of multiple time of the valuation of assets has created issues for the organization(s). Stage of insolvency will not be surprising. Because of energy crises, issues can be tricky, which my not be only for China, but for other countries like India, European countries etc.

Nifty may open with decent emotions. Issues for defence and space may remain better. On date possibility of companies linked with software may also be preparing for some better moves in coming period.

It will be better to keep a watch on defence, space, financial institutions, automobile may be doing better with infrastructure, power, metals, coal, IT, logistics, data, export related, education, sports related, chemicals, research, pathology laboratories, chemicals, carbon black etc. Keep a watch on logistics related segment, automobile tyre, EVs, batteries and many more.

Market looks positive and may look for further upper levels. Keep a watch. Nifty may look for another 100 points or so. Allow the market to settle down, before jumping for trades. Casual traders, it will be better to trade with strict stop-loss. Trimming or profit bookings on the upper levels may not be surprising.

Indian Currency

Indian Rupee may trade in between 74.60 to 75.50 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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