Daily Forecast – Share Market – September 23rd, 2022

Pressure on INR possible | Nifty may test 17500 | Watch defence

Sun leads the day, well supported by Moon, Mars, Saturn, Venus, Rahu and Ketu. Importantly lord of the share market and banks is totally combust (and will be during the whole trading session). Active Rahu-Ketu normally gives either volatility or some fear in the market. Foreign cues may not remain active. INR may show lowest levels during the day or in coming period or better to say that USD may improve its value to other levels against all global currencies – possibly impact of Federal reverse action. Rise of interest is increasing USD levels.

INR may be further cause of impact on the market also. Fear in the global market can be seen, because of rate of interest by other countries may be seen.

Now point is – Will RBI increase further repo rate in coming period to check INR values?

On next working day, lord of the share market will be out of total combustion and lord of the share market will be going out the shadow of Sun. So, chances may remain better.

Segments like Pathology labs may be doing better, with defence, space, and logistics etc. Keep a watch on finance, banks, textiles, leather, steel, IT, communication, healthcare, chemicals, power, company linked with agriculture automobile, automobile ancillaries, cement, oil exploration and insurance etc. may remain active with rice and sugar etc.

Nifty may test 17500. Keep a watch on FIIs. Export and IT, defence, space with FMCG with positive approach.

Indian Currency

Indian Rupee may trade in between 80.30 to 81.10 per USD.

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