Daily Forecast – Share Market – August 18th, 2022

Buy on dips and sell on rally | Pull back may give chance to sell

Sun with Jupiter is leading the day, well supported by Rahu (for early hours), Ketu, Venus, Saturn (Rx), Mars and Mercury. Foreign cues and local issues are important for the day, indications are that early hours may show some pressure or profit bookings, but it will be better to wait and watch for at least one and half hour, then move for the day or set direction of the market.

Crude and currency are once again trying for upper levels. I believe that crude may still face some pressure. Which may create doubts in the minds of traders. Geo-political issues are again disturbing to the market. If one more war starts, that means globe will be march with faster pace towards recession.

China is going for poll, so for them this is the time to have some such conflict, but this may give longer version of war.

IT companies are also giving negative news. Such as news from Infosys etc. I believe that due to rapo rates in US (news) may give some pressure on the market. Pressure in global cues is seen. So, it will be better to trade with care.

Pressure possible on many segments like IT, banks and financial institutions, But movements will also be for recovery. Even then sense of fear for the day is possible.

Today, I may not prefer to give segments for the movements. Euro and British Pound have lost levels against USD.

Nifty may show some pressure. Nifty may try to show some pressure in early hours. Selling is still possible. Wait for the levels of 17350. Then decide the trade. Sell on rally, buy on dips.

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.