Nifty Prediction : Nifty may show pressure | Trade in between 17850 to 18000

Daily Forecast – Share Market – January 20th, 2022

Nifty may show pressure | Trade in between 17850 to 18000

Ketu, Sun with Moon is leading the day, well supported by Saturn, Rahu, and Venus. Crude oil, corona cases are rising in nation. Global negativity is also rising. Gold prices are also rising. Geo-trade is under pressure due to inflation and other reasons. We may see impact of the same.

I feel that on date sell on rise will be better. Nifty and bank Nifty may remain under pressure, possibly at least 5 days or till next week. Retrograde Mercury will be crossing Sun (possibly from Monday). Secondly, market may be preparing for the budget session, starting from 01-02-2022.

Nifty may test 17800. Weekly expiry may remain in between 17850 to 18000. But sell on rise may give advantage to the traders and investors can look for opportunities for good stocks.

Keep a watch on defence, automobile, renewable energy, EVs related automobile, batteries, electronic chips, solar energy etc. in coming days. Inflation and no check on related areas may give negative impact. Automobile tyres may also show pressure along with paints because of rise in crude oil prices etc. Logistics may give support to the tyres in coming period but passenger tyres segment may show some pressure.

IT, IT related areas, e-commerce, space and defence etc. with chemicals and spirit, communication instruments, infrastructure, education related segment, and many others may do some interesting movements.

Nifty may trade within 17850 to 18000 during the day. Sudden moves will be interesting. Stop-loss and sell on rise will be good for traders.

Indian Currency

Indian Rupee may trade in between 74.00 to 74.80 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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