Nifty Prediction : Nifty may show some consolidation | Nifty range 18100 – 18400
Daily Forecast – Share Market – November 21st, 2022
Nifty may show some consolidation | Nifty range 18100 – 18400
Saturn with Mars leads the day, well supported by Venus and Rahu. Indications for the market is – impact of foreign cues may be seed during the day. Although, Mars and Venus are exchanging aspects and Mercury with Sun conjuncts with Venus, hence remain active.
This week will have monthly expiry; hence market may behave accordingly also.
Banks may also show improvements, remember, due to action of Venus – Rahu – some hopes may build up (but may be like daydreams). So, it will be better to trade with stop-loss.
Many companies have heavy inventories, possibly they will have issues for the same so may try to push or release in the market. Importantly India’s main segment – IT is facing issues, many companies are firing their employees or employees are facing sword on their head.
Newly listed companies like Zomato is also facing financial issues, they have fired employees and again may go for retrenching 1% of their employees for a while.
Keep a watch on FIIs, Dairy products, Leaf based segments, logistics and related segments, automobile and related segments like batteries, infrastructure, power and related segments, energy, oil marketing companies, but oil exploration may face some pressure, alcohol, FMCG, keep a watch on currency, and many more may show movements.
Market is looking for any opportunity for the proper direction – possibly on the upper side for a while. But this does not mean that market may not breach 18100 in coming period. Nifty range may remain 18100 to 18450 (in coming period)
Indian Rupee may trade in between 81.20 to 82.00 per USD.
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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
Categories: Share Market