Daily Forecast – Share Market – December 23rd, 2022

Nifty may test 18000 (with range of 18300) | Buy on dips and sell on rise

Ketu with Venus is leading the day, well supported by Sun, Moon, Mars (Rx), Saturn and Rahu. Foreign cues may again be deceptive and pressure + recovery from lower levels possible. It will be better to watch with care and then move or trade. Remember global festive season is on. Impact is also possible. Today is last working day of the weekend and before Christmas.

Inflation in global market like Japan is increasing. COVID cases on global levels like Japan and US are increasing. These are such market which may affect our market directly. News from Japan central bank may further affect the market.

Indicating that market may test 18000 of Nifty. It was mentioned in my earlier posts that market may text 18100 (in later part of the month), we are now close to year end. On 27-12-2022, Lord of banks will move in Capricorn sign, so support to banks will not be there, but possibly this may affect share market in either side. Justified levels of share market may be seen after this date.

Time to give safeguard to funds also. Sell on rise may be seen during this period. So, market may show the levels of 18300 to 18000.

Movements in all the segments may be seen (positive and negative both sides). Banks – Keep a watch closely the levels of banks. Next week will be the last working week of the year 2022.

Defence and related segments will be important for the coming period.

Railways manufacturing , drone manufacturing, defence related automobile, automobile ancillaries, electronics gadgets related to defence, power, infrastructure, pharmaceuticals, Pathological laboratories, and many more may be showing movements on either side, inclusive of leaf based, IT (movements either side), and many more.

Nifty may test 18000, but buy on dips and sell on rise. Range may remain 18000-18300 of Nifty.

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.