Daily Forecast – Share Market – June 23rd, 2022

Range bound trade (Nifty 15550 to 15225) | Avoid long positions

Sun is leading the day, well supported by Moon, Mars, Rahu, Ketu, Jupiter, Mercury and Saturn (Rx). Entire horoscope is active, but lord of share market and banks is bit uncomfortable, because is transiting through the Naskhtra of inimical planet. Hence, support from the lord is not decent. Rahu and Ketu both are active, indicating emotions of the traders may remain uncertain.

Even though some positive moves or buying from lower is also possible. But at any moment selling from upper levels will not be surprising.

This is also true that crude is affected due to sensing recession in the global economical movements. Market may have some advantage of crude, but fear of recession is deepening. Metals and related segments may further be affected due to such fear. I agree that chances of banks may improve in the first week of July, and in the second week of July little bit of better moves may be seen in the market. Because, Saturn will return back in the Capricorn sign. Which may increase intensity of Pandemic/CORONA or any other health related issues or may give impact in the war (Russia/Ukraine and others).

Global economic experts are trying to bring down inflation, but due to gas, crude and coal (energy) issues, inflation may be high. Or better to say that prices may remain high. Unless war is come under control, situation will not come under control. Unemployment or layoff situation is alarming. In India SMEs situation (which was earlier) is again cause of concern.

Market may remain volatile. Buying from lower and selling on upper side. Remember tomorrow is expiry. Hence, market’s volatility is possible and secondly, Rahu and Ketu may increase fear of uncertainty in the minds of traders.

Wait for long-term buying. Possibility of selling on upper levels. Nifty may show 15225 or so.

Indian Currency

Indian Rupee may trade in between 77.40 to 78.30 per USD.

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