Daily Forecast – Share Market – October 13th, 2022

Nifty may threat 17050 and look for 17250 | Buy on dip n sell on rise

Mars with Sun leads the day, well supported by Venus (Combust/Ast), Rahu, Moon and Saturn (Rx). Planetary position is close to change their positions in coming period, importantly lord of the horoscope’s lagna is total combust and not in a position to support self or give support to the horoscope.

Inflation in India is rising regularly. Again, one more quarter is above 6%, indicating for negative trend in the market in coming period possible. Globally also, inflation is above 6% more than 3 quarters. Unemployment is also alarming globally. Companies are looking for harsh steps for the employees. GDP – Globally dipping. World bank and IMF along with other financial agencies are in fear of dip of GDP. Three quarters of dripping of GDP is completed in this year only, apart from impact of COVID, if we include then period is too long.

Selling on the upper levels will not be surprising. Lord of banks and share market is in own house, protecting levels, but not good for the traders, because movement is neither very high nor very low. Direction is not clear.

INR is above 82 against USD. UK’s central will be stopping buying of bonds after tomorrow, which may affect Pension funds etc. in UK.

Banks, defence, aluminium, INR may give some indications for IT (but is this real growth of companies – if real growth, then why alarm is for hiring), space related segments, alcohol, spirit, wine etc., sugar, textiles and FMCG etc. may be doing bit better in comparison to others, hence keep a watch on aviation/travels etc.

Nifty may threat to 17050 on the lower side and may try for 17725 on upper side. Buy on dips and sell on rise.

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.