Daily Forecast – Share Market – October 21st, 2022

Nifty may remain in 17400-17600 | Volatility possible

Wishing you all very happy Deepawali.

Today is last working day of the week and next week will be a week of festivals, solar eclipse. Monday will be Muhurt trading of Deepawali. 25-10-2022 will be solar eclipse, and we may see impact of the eclipse on the market after this event. 26-10-2022 again will be a holiday. So, short week ahead.

Mars is again leading the day with support of Venus, Ketu, Rahu, Saturn and Moon. Importantly Saturn is ready to start transit direct, so, speed for us will be very slow. Results will neither be much bad nor so good, possibly slow. Cues from foreign market including political issues may be affecting the market till the results of leading companies for the quarter will be announced.

Shaky mood from foreign markets may give some impact on our market in second half although, impact of our news may be seen. Lord of lagna of India’s horoscope is totally combust. So, I do not expect much positive impact from local news. Although few companies may give some pre-deepawali smile to the market.

Nifty may test 17450 or so. Or better to say that range may be within 17400 to 17600.

Activities in banks, financial institutions, logistics, automobile tyres, travel and tourism and related transport, metals, electronics and electricals, with communication instruments, cotton, garments, textiles, cement, chemicals, alcohol, wine, and related segments etc. may show actions along with many more like dairy, leaf based segments, with IT etc.

Trade with care and watchful buying. Settlement will be now on 27-10-2022 because of holidays or festive week.

Nifty may trade within the range of 17400 to 17600. Volatility possible.

Indian Currency

Indian Rupee may trade in between 82.20 to 83.00 per USD.

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