Daily Forecast – Share Market – April 18th, 2022

Pressure possible | Nifty may look for 17250 or so

Jupiter with Rahu is leading the day, well supported by Sun, Mars, Ketu and Venus. Activities can be seen during the day, but Rahu/Ketu action and changes in planetary positions may give some pressure. This we can say that geo-political and economical situation may be the specific reason.

Crude/energy main cause of concern over inflation and food crises globally due to Russia – Ukraine war. Secondly, base was disturbed due to COVID, which is still hitting to hit the common persons. China is facing issues, related to COVID.

It will be better for us to take necessary precautions (despite of mass vaccination) related corona and its variations.

Nifty may breach 17300 and may look for 17000 as mentioned around 10 days back. Jupiter will support this share market, but volatility is also possible.

Local companies have not performed (results wise) as expected. Energy costing is also hurting the businesses. Common man is affected by uncertainty of gas and petroleum prices, their budget is also hurt badly. So, this may affect the demand of various segments of capital goods. Essentials may also feel pressure in demand in coming period.

Crude may further see upper levels. Healthcare and insurance will be key area for the year. Defence, infrastructure, cement and automobiles, electronics and electrical segments, chips, communication instruments, fibre base textiles, power, especially power linked with green energy, alcohol, glycol, non-traditional segments, spirit, by-products of sugar, automobile (based on news), chemicals and many more may remain active.

Nifty may look for 17250 or so. Look for opportunities on either side.

Indian Currency

Indian Rupee may trade in between 75.80 to 76.60 per USD.

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