Daily Forecast – Share Market – April 12th, 2022

Nifty may see some pressure | Profit booking possible

Ketu, Jupiter with Mars are leading the day, well supported by Mercury, Rahu and Sun. Crude is under pressure, possibly due to COVID cases in China. Geo-political situation is also not decent. Inflation is rising (practically). Petroleum rates in country is not showing any stability, which is specific reason for the inflation.

Rahu and Ketu are changing its sign and house, whereas Jupiter will be changing its house and sign on 13-04-2022. So, changes in planetary position of major planets may give ups and down or instability in the market. Which may give pressure in the market. Question is – will market touch 17000 of Nifty? Tomorrow is last working day before the long weekend. That means weekly expiry will be on 13-04-2022.

Foreign cues and local cues are not decent to support the local market. Indications for negative moods. It will be better to watch news from government or agencies. Keep a watch. Ketu may give sudden change in trend at any time.

Action in many segments can be seen during the day. Chemicals, metals, cotton, entertainment instruments, electronics and electrical, defence related, ore, banks and financial institutions, it will be better to keep a watch on news from banks within this month (negative or positive), which may influence market.

Pressure is possible. Nifty may look for lower levels or sudden changes in the market possible.

Indian Currency

Indian Rupee may trade in between 75.50 to 76.20 per USD.

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