Nifty Prediction : Nifty may test 17425|Volatility Possible | Allow to settle

Daily Forecast – Share Market – September 1st, 2022

Nifty may test 17425 | Volatility Possible | Allow to settle

Venus with Moon is leading the day, well supported by Saturn, Jupiter, Mars, Rahu and Ketu. Impact of foreign cues will be important for the day, and combination of Rahu and Ketu may give volatility. Thirdly, it’s a last day for the week. Indications are volatility can be seen during the day.

In my last post it was mentioned to be watchful at the time of closing of the day, today, market may show week opening. Foreign cues and Rahu/Ketu activities may give gap-down opening. Wait and allow the market to settle down. Look for the opportunities at upper and lower levels, so that one can find the right trade.

Areas for the long will be defence, space, power, renewable energy, hydrogen and related segments. Keep a watch on IT (which is still oversold), banks and financial institutions. FIIs may play some role in coming period, so keep a watch.

Automobile, EVs and likewise segments, semiconductors and many more may be areas for the future. Please keep a watch.

Nifty may test 17425 and try to regain from lower, but be watchful on the weekly expiry.

Indian Currency

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

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