Nifty Prediction : Nifty may look for 16500 or so | Foreign and local cues Imp

Daily Forecast – Share Market – July 20th, 2022

Nifty may look for 16500 or so | Foreign and local cues Imp

Stop-loss Important

Jupiter, Venus and Saturn (Rx) are leading the day, well supported by Mars, Rahu, Ketu, and Mercury. One another day for positive moves. Foreign cues are positive for the day, whereas currency is losing its base. Inflation on the ground is also hurting people. Planetary positions are indicating Mixed moves, but due to foreign cues and quarterly results, market may show or look for 16500 levels of Nifty.

This is also important that Lord of share market and banks has come out of total combustion. That means this lord is gaining strength properly. Government’s move for crude oil may also be supportive.

Global support is important and results of many companies in India. Which are supportive. Banks and financial segments are also supportive. It will be better to enjoy session of first half of the day, wait to start session after 12:49 Hrs (IST), look for the various cues and move.

That means stop-loss is important on either side.

Areas like communication instruments, banks, financial institutions, oil explorations, oil marketing segments, cements, infrastructure, aviation, IT, e-entertainment, chemicals, alcohol, sugar, textiles, food related segments (keep a watch), power, energy, metals, and many more segments may remain active.

Defence is another area to watch and invest.

Due to news from government that after imposing windfall tax on crude government has reduced a part of that, I agree that imposed windfall tax is still on in major amount but reduction of this may give some positive impact on the market.

Enjoy the day with banks, petroleum, IT, communication and many more. Nifty may look for 16500 or so. Watch and move.

Indian Currency

Indian Rupee may trade in between 79.50 to 80.30 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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