Nifty Prediction : Nifty may test 16900 | Watch defence companies

Daily Forecast – Share Market – September 28th, 2022

Nifty may test 16900 | Sell on rise | Watch defence companies

Mars, Rahu and Sun are leading the day, well supported by Moon, Saturn (Rx) and Venus. Foreign cues are playing important role again, whereas Rahu may again give wave on either side. Currency is also losing its strength against USD. Even other currencies like GBP and Euros are losing its strength.

Crude is under pressure and may be in the same way till Middle of November or so. Fear of recession is surrounding after regular inflation, fall in GDP, fall in Production in more than 3-4 quarters (these all are applicable globally) – I am not talking about India. Unemployment is again affecting demand in the market. Few companies have to windup their production centres from various counties and move ahead, possibly due to fall in demand. Same has affected automobile sector, banks and many more areas.

Wave of geo-political disturbances are indicating movements in defence, electronic gadgets, space, IT, chemicals (indirectly), power, energy, alternate energy – if countries or country will not find out on alternate energy for automobile and aviation industries then possibly after 30 years we may face big issue (globally).

On date chances of pressure cannot be ignored, but chances of again buy on dips possible, if the same trend of dip will continue till the last working day of month, then chances of rise after 02-10-2022 may be seen in coming period.

Nifty may test 16900, keep a watch on FIIs. Buying form lower levels possible.

Precious metals may remain under pressure.

Buying from lower levels possible, time for casual traders to be watchful. Crude is again under pressure. INR may be looking for 82 against USD. US has increased Home loan to the highest levels of 30 years (7%). UK is facing big issues to control their currency levels.

Sell on rise may be seen during the day, for long term investors may invest part of their investment amount and look for opportunity in dips for good equities. I will prefer for defence, space, and like wise companies + logistics may be important in coming period, so automatically Heavy/Light commercial Vehicle manufacturer may have some advantages.

Power, defence, automobile, automobile tyres, agriculture related automobile, gas, chemicals, dairy, metals, health-care, also be watchful for insurance, and other many segments. Protect funds. Oil marketing companies, paints and likewise companies may be looking for opportunities.

Protect funds, Nifty may test 16900. Trade with total safety measures.

Indian Currency

Indian Rupee may trade in between 81.30 to 82.00 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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