Nifty Prediction : Currency weak | Impact on Market | Foreign Issues Important

Daily Forecast – Share Market – October 20th, 2022

Currency weak | Impact on market | Foreign issues Important

Mars leads the day, well supported by Moon, Rahu, Ketu, Mercury, Saturn and Venus. Lord of the lagna of India’s Horoscope is totally combust. Unable to protect own concern with strength. Saturn is slowing down its speed, because will start transit directly in coming days.

Importance of foreign politics, foreign cues or steps by foreign government may affect our market. Rahu, Ketu normally gives volatility. Currency may touch the lowest levels.

US bonds are gaining strength, it means that safety of currency is required by investors in running and coming period. Which may affect the market negatively. We are heading for solar eclipse.

Keep a watch on Banks, financial institutions, wait and then move. Nifty may show some pressure, possibly buying at lower and selling on upper quite possible.

Crude may face some pressure on upper levels due to US government policies. Now, political issues of UK may also affect the market (their) in coming period. Keep a watch. Indirectly, we are affected because of service industries (IT and related), since connectivity is direct.

Activities in many segments can be seen, IT, communication, alcohol, communication instruments, chips related segments, alcohol, cotton, silk, slow movements in many segments possible, defence, import-export related segments, chemicals, solvents and many more may remain active.

Keep a watch on Mild and small caps. Nifty may show pressure. After 10:29 Hrs (IST), changes and direction for the day will be possible. Currency is another reason for pressure on the market.

Indian Currency

Indian Rupee may trade in between 82.30 to 83.20 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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