Nifty Prediction : Market may remain within range | Banks Important | Midcaps and Small caps interesting

Daily Forecast – Share Market – December 29th, 2022

Market may remain within range | Banks and Institutions Important

Ketu is leading the day, well supported by Rahu, Venus, Sun, Moon, Saturn, Mercury, and Mars (Rx). Market is in the range. Nifty may show withing range and flat position for a while. It will be better to buy on dips, but trade with strict stop-loss.

Normally, Ketu gives swing on the upper side. Although foreign cues may not be strong, but except Jupiter all the planets are active for the day. Reason is still many data from various nations are not impressive. Metal may show some movements, because of China Vs. US and EU.

I will not be surprised if nifty may trade within the range of 18600 to 18000. If Nifty stays above 100 or 115 points than the previous close, only then buying for the long will be better. Otherwise buy on dips and trimming on upper may be seen.

This period may not give gap of substantial movements, unless breaches 18600 or on the upper side 18825 or so.

Midcaps, small caps may show movements along with other segments. All the segments are active. So, movements in various areas may be seen. Anticipation of election results from Gujrat and Himachal may give its impact. It is also fact that under normal condition ruling party of Himachal may for government even after 1 year or 2 years. New Party may give indications for rising of new power, which may show its flavour only after 5-7 years.

Message for ruling party of the nation – possibly unemployment, defence related employment, and many more must be point to reconsider.

US and other part of the globe are not comforting. Economic situation of globe is not normal. Ups and downs are quite possible.

Consumer segment, metals, chemicals, energy, pharmaceuticals, sugar, textiles, communication related technical instruments, Jute based segments, nature related segments, coal, and other conventional fuels/energy, non-traditional segments, and many more may show movements with Banks and financial institution and IT (may show some confusion for a day or so).

Nifty seems to be within range for a while. Buy on dips. Small caps and Midcaps may remain interesting. Keep a watch on DIIs and FIIs. Fund management may be playing important role in coming period. Banks on dips will be better for Next 20 days.

Indian Currency

Indian Rupee may trade in between 81.10 to 81.90 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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