Nifty Prediction : Nifty may test 18100 | Watch Banks n IT closely

Daily Forecast – Share Market – January 19th, 2023

Nifty may test 18100 | Watch Banks n IT closely

Venus with Mars is leading the day, well supported by Sun, Moon, Rahu, Saturn and Mercury. Foreign cues, petroleum and pressure of news from global companies like Microsoft regarding jobs, weekly Option expiry are clear important factors for the day along with the planetary Utha-Paktak (normalization under process).

Budget is ahead, few working days away. Movement range was on upper side, was they in big volumes with positive notes? I still doubt.

Rahu gives me a little bit of suspicion for the period in which we are trading.

It is also true that lord of banks and Nifty has changed its chaal (direct from retrograde transit). Indicates market may change its direction, possibly some pressure can be seen during the day. But cues and situation for economy in international levels, for future, possibly market may face trouble economically.

Cash-flow in the market is still in the market, slowly and gradually may flow out to gold, silver and bonds etc. in coming months (if it happens then will not be surprising). The moment big players will move out majority of cashflow from market (although they may be in the process), we may see slump in the market. Secondly, Giant companies like MS, Twitter, Google are raising alarm. IT had worked in the best way during lockdown and after that period, now that area is showing weakness or alert.

Areas like Banks, financial institutions, defence, engineering, power, infrastructure, IT, keep a watch on VIX, news from various nations, oil marketing companies, chemicals, automobile tyres, pharmaceuticals, alcohol, alternate energy, sugar, related products of sugar, and many more may remain active. Action of almost all the segments with banks can be seen on either side. Banks may try to hold levels.

Nifty may show some pressure. Look for 18050 or so. Banks – keep watch. Nifty still play safe.

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.

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