Nifty Prediction : Nifty may trade within 16550 to 16700 | Watch Iron and steel

Daily Forecast – Share Market – July 26th, 2022

Nifty may trade within 16550 to 16700 | Watch Iron and steel

Rahu, Saturn (Rx) and Venus are leading the day, well supported by Mars, Mercury and slowing down Jupiter (better to say that preparing for the change in transit movement direction). Indications for crude and sea related areas may be interesting after 29-07-2022. It will be interesting to see situations in various countries.

Impact will be seen on the market and global economy.

I feel that market’s runup for the time needs some rest or refreshing movements. Possibly again some profit bookings possible on the upper levels and buying from lower levels. Nifty may again breach 16600 levels, if will test 16550 then not surprising.

Crude is holding levels around 100 USD, reason is Jupiter is slowing down its speed for us, because transit movements will be changed after 29-07-2022. Lord of share market is not supportive, reason is Rahu’s conjunction with this lord.

Value of Nifty in terms of USD is down, yes I agree that in terms of INR indicates some recovery. VIX is good. Banks and financial institutions are little bit better with IT, automobile and related segments. Keep a watch on Logistics, communication, power, petroleum based segments like Automobile tyres, paints, automobile batteries, renewable energy etc. Global market is watchful for US news. Global tech. companies are little bit under pressure. Fact is during the period of Lockdown and others, IT had performed best with communication (globally). Possibly might have overvalued. So, possibly some correction in coming period should not be surprising.

Iron and steel with other metals may be better for the day, reason is planetary support and results of the companies.

Nifty may show sudden movements at any direction, reason is importance of Rahu can not be ignored. Nifty may breach 16600 and possibly test 16550.

Indian Currency

Indian Rupee may trade in between 79.30 to 80.10 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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