Nifty Prediction : Mixed day possible | Watch foreign issues | Banks Imp.
Daily Forecast – Share Market – July 21st, 2022
Mixed day possible | Watch foreign issues | Banks Imp.
Saturn (Rx) with Venus is leading the day, well supported by Jupiter Mars, Rahu and Ketu. Importantly, Saturn is retrograde but impact from foreign lands can be seen despite of results impact from local companies. Crude is around 100 USD, but INR is sliding on regular basis. Within last 4-5 months has slipped around 8-9% of its value, shortly may be touching -10%.
Similarly, inflation is high. If we workout in terms of USD, possibly one can say no Inflation, but in terms of INR inflation is high, in terms of USD, GDP?
Market is trying to hold around 16500, but consolidation or profit bookings on upper levels will not be surprising. Whereas cues from foreign market may give their own impact. Hence mixed day is possible.
Areas like banks, IT, communication, e-commerce, chemicals, power, petroleum, coal, Iron and steel with other metals, automobile, automobile tyres, cement, infrastructure, keep a watch on textiles, sugar and leather, Pharmaceuticals, pathological laboratories, storage containers, watch transport and logistics, alcohol, non-traditional segment, renewable energy, cotton and many more may show movements.
Indications are for consolidation or trimming on upper side. Nifty may show mixed performance. Remember today is weekly expiry, so game is possible.
Indian Rupee may trade in between 79.40 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.
Categories: Share Market