Daily Forecast – Share Market – September 29th, 2022

Market may remain range bound | Nifty may test 17100 and 16800

Sun with Mars leads the day, well supported by Moon, Rahu, Jupiter, Saturn, and Venus. Indications from global market will be important, possibly crude may show further rise, and currency may remain almost in the show same range.

Three planets are retrograde with Rahu, indicates that market may show changes in the trend of the opening session or may change the direction after some time of opening of the day. That means if Nifty opens with some positive touch, then sell on the rise will be better, nifty may test 16800. Or it will be better to set the stoploss of +/- 100 points of Nifty.

On every rise, it will be better to sell. Psychologically market is weak, and other parameters are not positive on date. Possibility of confusion can be seen during the day. Importantly foreign cues will be guiding opening session.

Areas like defence, Logistics, communication, power, chemicals, automobile, automobile tyres, automobile tyres, since crude has shown some correction, so related segments like paint and many more may show better movements, pharmacy, chemicals and many more may remain active during the day.

Do not chase opening, sell on rise will be better. Nifty may test 16800 and on upper side 17100.

Indian Currency

Indian Rupee may trade in between 81.20 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.