Daily Forecast – Share Market – August 24th, 2022

Emotion of local is better | Range within 17450-17650

Saturn with Sun leads the day, well supported by Mars, Jupiter (Rx), Mercury, Ketu and Venus. Indications are clear that lord of share market is protecting own house, I agree that wobbling lord of share market’s ups and downs is also giving impact on the house of share market, so Ups and downs but rise is possible. Protection to own house by its lord is also important.

That’s why despite of odds from foreign markets, our market is holding its levels and improving also.

I believe that due to support from Sun, Moon, Ketu and Venus this market will be looking better despite of foreign cues. Remember five planets are in their own house, so they may behave better. Only point of concern is retrograde Saturn which is ready to play role of DANDADHIKARI for the wrong deeds (if any is done).

Currency is under pressure. At the same time crude is interesting, retrograde Jupiter may give some cause of relief, which may give fear also in the share market.

Keep an eye on FIIs also.

It will be better to focus on Banks and financial institutions, IT, automobile, renewable energy, gases like Hydrogen or other source of energy, petroleum marketing companies, logistics, e-business/commerce, cement, infrastructure, tiles and sanitary, power, steel and metals, ore, chemicals, insurance (buy on dips), automobile ancillaries/tyres, paints, health-care, and many more may remain active with communication instruments, electronics and electrical, cotton, FMCG, fashion etc.

Nifty may look close to the previous levels. Remember, tomorrow is expiry day for the month. Trade will be accordingly. Even then market may trade for some lower side as well may go for upper side also. That means chances of trade may remain in between 17450 to 17650.

Indian Currency

Indian Rupee may trade in between 79.30 to 80.00 per USD.

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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.