Nifty Prediction : Nifty may look for 16700 | Watch Foreign cues & Quarterly results

Daily Forecast – Share Market – July 22nd, 2022

Nifty may look for 16700 | Watch Foreign cues & Quarterly results

Saturn (retrograde) and Venus are leading the day, well supported by Jupiter, Mars and Rahu. Indications from planetary position is that impact of quarterly results will be important for the day, whereas cues from foreign markets are also important.

According to China’s horoscope, lord of lagna of their horoscope and banks and financial institutions is falling, indicating that support from banks and financial institutions, which may ignite public and indicate some arrogance and steps by the head of the state/government. Resulting impact on the global market may be seen in coming period. It will be better to be watchful on Chinese companies.

That’s the reason that global markets are indicating mixed movements.

I feel that local markets may respond according to their quarterly results, so chances of going up in the bases of market. Resulting Nifty may look for 16700. Impact of foreign cues may give little bit of volatility. Consolidation or profit bookings on upper levels at any stage is possible. Since, it’s a last day of the week, global scenario may show fluctuation in coming period (possibly).

Areas like banks and financial institutions, automobile, automobile tyres, power, metals, iron and steel, e-commerce, IT, communications, chemicals, sugar, textiles, FMCG, pathology laboratories, keep a watch on Food grains, electronics and electrical products, paints, cement and many more may be showing movements.

Nifty may look for 16700, but trade with care because of news from markets like China and others.

Indian Currency

Indian Rupee may trade in between 79.50 to 80.40 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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