Daily Forecast – Share Market – March 16th, 2022

Colourful day | Nifty may look for 16950 or so | Stop-loss imp.

Holi is ahead, possibly a colourful day for the market.

India is passing through Mahadasha of Moon, anterdasha of Mercury, Pratyanter of Moon with sukshma dasha of Mercury. Indications are clear that market and banks are active. And Jupiter with Moon is leading the day, well supported by Rahu, Ketu, Mars and Sun. Indications are clear that situation is improving for the day.

Remember, crude is sliding – there are two reasons for the same – 1. Lockdown in China and rising cases of COVID, which has reduced demand of crude in China (a big market). 2. Russia and Ukraine (possibly) heading for conclusion or going for a negotiation.

I believe we may see a rise in the Nifty levels and may try to look for 17000. I had already mentioned in my yesterday’s post that time to look for long and look for opportunities. If purchased at lower levels, then time to look forward.

Areas like IT, banks, financial institutions, automobile, automobile tyres, power, chemicals, metals, e-commerce, food based on e-commerce, education related, communication instruments, defence, space related, logistics, travels and tourism, sea related, laboratories, alcohol, non-traditional, spirit and related areas and many more may be showing movements in Mid and small caps also.

Nifty may try to look back for 17000 levels, trade with fun. Enjoy a colourful day.

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