Daily Forecast – Share Market – October 18th, 2022

Gap-up possible | Allow market to settle down | Do not chase levels

Mars with Saturn leads the day, well supported by Moon, Venus and Rahu. Solar eclipse is ahead (on 25-10-2022), indicates that market in coming periods may give cut from the upper levels in the market (remember eclipse will be in India also). Hence, on date market may show run for the period. Nifty may look for 17400 or so.

Nifty may try for further upper levels. Foreign cues and foreign issues (Political) will be important including India’s relationship with foreign nations in coming period. Eclipse will be affecting foreign area of India.

Allow the market to settle down if opens with gap-down.

China’s GDP announcement is deferred, which may give some fear in the market. Expectations in China’s market will be a just guess. Even then market may consider this news.

Leaf based products, defence, communication, green energy, alcohol, spirit, non-traditional segments, pipes, sugar, leather, textiles, agro-produces, and agriculture related automobile, EV, HCV (Heavy commercial vehicles), LCV (Light commercial vehicles), logistics, paints, oil companies and many more may remain active. It will be better to say that action in almost all the segments will see.

Nifty may look for 17400 or so. Wait and allow the market to settle down.

Indian Currency

Indian Rupee may trade in between 81.80 to 82.60 per USD.

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