Nifty Prediction : Nifty may show recovery from lower | Keep a watch on foreign cues

Daily Forecast – Share Market – August 26th, 2022

Nifty may look for 17700 | Keep a watch at closing hours

Mercury with Sun leads the day, well supported by Saturn (Rx), Jupiter (Rx), Venus, Ketu, and Mars. As mentioned in my previous posts buy on dips, may give an impact on the market. Indications are that Nifty may show gains from the lower levels.

Global cues may remain better, and lord of share market and banks will be better. Giving support to the market. Hence, after profit taking from previous day, today market may show buying or may show better opening.

Respond to the market and foreign cues. Nifty may like to prepare for upper levels. Whereas crude oil is improving its levels, due to geo-political situation (may be due to Iran). Impact of unemployment, inflations and others are cause of concern (globally). Central banks of various nations are in confusion (as Ketu is indicating) – wait for peaking up of Unemployment and look for automatically control of inflation or they should increase Repo rates.

Saturn is also ready to act as Dandadhikari. We must prepare for the same in coming years also.

Now, for the day, market is 17700 and banks may again look for better moves. Keep a watch on IT, leather, cement, insurance, power, metals and automobile, with sports, education, chemicals with cotton, chips, electronics communication instruments manufacturer, healthcare related various segments, defence, defence linked electronics, and many more may give impact.

Remember, it’s a last day of weekend, in the late evening news from foreign market/nations may give impact on the next working day. Keep a watch.

Nifty may look for 17700, but watchful eyes on news from foreign markets will be important at the time of closing. I agree that lord of share market is ready to protect base.

Indian Currency

Indian Rupee may trade in between 79.30 to 80.30 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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