Daily Forecast – Share Market – January 12th, 2023

Nifty may show buy on dips and sell on rise | Range 17800 to 18000

Venus with Moon leads the day, well supported by Sun, Mars (Rx), Rahu and Saturn. Importantly, Mars will start transit direct on 13-01-2023 at early hours of the day, means before opening of the market. Foreign cues may remain positive with a hope of better of inflation.

As mentioned on previous working day that keep a watch on FIIs and DIIs. FIIs has sold a big volume. Inflation data of US will be important. Even though China is indicating some issues with data.

Nifty is trying to retouch 18000, although market will be trading for expiry of week. Probably market may try to hold 17775. In case this level breaches then market may fall suddenly. Possibly today market may hold this level. Buy on lower levels and sell on rise.

Due to shaky Global indications and market with other situations possibly shaky trend may be seen.

Copper may show some rise in the market. Remember, we are heading for last budget of 2024 General election (I mean full budget), hence government may show expenses towards infrastructure or other ways, despite of weakness in economy.

Areas like power, automobile, banks, financial institutions (keep a watch again), global news, along with government news, alcohol, renewable energy, sugar, textiles, chemicals, defence, shipping and aviation or space related defence system, rubber, automobile tyres, electronics and electricals etc. may remain active during the day.

Buy on dips and sell on rise quite possible. Nifty may try to hold 17800 and look for 18000.

Indian Currency

Indian Rupee may trade in between 81.30 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.