Daily Forecast – Share Market – October 12th, 2022

Buying from lower and sell on Upper Possible | Watch Global cues

Mars with Venus leads the day, well supported by Sun, Moon, Rahu and Saturn (Rx). Importantly, horoscope lord Venus is close to total combustion, Saturn has slowed down its speed. Impact of foreign cues will be important again. This is fact that lord of share market is trying to protect own house, but pressure from other planets may be tough for the lord of share market.

Market may show buying from lower levels, even then possibility of close to previous levels. Keep a watch on news from various sources – including from Indian market, government agencies and from geo-political situation and business related news. Nifty may try to look for 17000 or so. Even then keep a watch.

Policies from US may disturb not only global scenario but may affect India also, be watchful for chip manufacturing segments or news. US is negatively influencing economic situation of other nations. Possibly aftereffects of COVID, and now Russia Ukraine disturbance + impact of China – Taiwan tussle. We must be prepared for the impacts. Inflation due to fall in currency and crude will be hurting common person, job cuts impact of global companies may also give trouble to us.

We are service provider for IT industry (mainly), if other nations are facing issues, then this may affect our IT industries (if they will not play smartly). They may have to opt for small orders to fill the gaps of Europe/UK and US.

I feel that sugar, textiles, leather, defence, power, travel or railways related segments, hotel, logistics, automobile and many more segments may remain active with financial institutions, banks – watchful movements, insurance and many more may remain active. Possibility of buying from lower levels and sell on rise.

Nifty may try to look for 17000 and breach 16900. But buying from lower possible.

Indian Currency

Indian Rupee may trade in between 82.00 to 82.75 per USD.

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