Daily Forecast – Share Market – August 22nd, 2022

Nifty may try to hold 17600 | Consolidation Possible | Watch Global news

Sun leads the day, well supported by Mars, Rahu, Ketu, Jupiter (Rx), Saturn (Rx), Mercury and Venus. Importantly, four planets are in their own sign, and two important planets are transiting retrograde. Indicating that currency (INR) may again look for 80 against USD.

Remember it’s a week for the expiry of the month, so market may behave accordingly. Secondly, Rahu Ketu are prepared for Volatility.

Foreign cues may be low, chances are that despite of lord of share market in own house, Nifty may show some pressure. But this may give maintaining the levels of share market.

This trend may indicate that market may show some consolidation or taking some breath. That means look for Opportunities at lower levels. Nifty may try to hold 17600. I feel that market may hold the levels and the moment, this lord will gain strength may give better support to banks, financial institutions and share market.

News from foreign market may not be so positive, fear of weak economy (GLOBAL) may give some pressure.

Keep a watch on FIIs also. Keep a watch on news from China. This may give impact on the market so keep a watch on the news from China in coming period. Keep a watch on IT segments. Issues may give Volatility. Planets are also suggesting Volatility.

Since, almost all the planets are active directly, so action in each and every segment may be seen during the day, may be bit Ups and downs or pressure will also be not surprising.

Keep a watch on communication, logistics, power, automobile, brokerage houses/exchange, pharmaceuticals, sugar, agriculture related segments, automobile ancillaries, automobile tyres, banks may feel some pressure, chemicals, textiles and many more may remain active with non-traditional segments, alcohol and related segments, with healthcare, FMCG and UPI based segments, may be showing action. Action may be on either side because of wobbling of two major planets.

Trade with care. Pressure/consolidation possible. Nifty may try to hold 17600 levels.

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.