Daily Forecast – Share Market – January 23rd, 2023

Nifty may look for 18150 | Trade with the wind

Mars with Venus is leading the day, well supported by Sun, Moon, Rahu and Saturn. Importantly, we are heading for budget. Foreign cues with local issues may be cause for the day. Rahu indicates some indications we may see for deceptiveness in the foreign market.

Nifty may try for another 100 points +, market is holding 18000 of its levels. Global cues may remain positive along with support from INR Vs. USD.

Banks and related segments like financial institutions may remain active and possibly also give support to the market.

We are trading in a short week. This week we have a holiday for Republic Day. Next week impact of Budget will be seen. It will be better to prepare ourselves for the budget affects.

Local cues may remain better and impact of Budget.

Infrastructure, defence, leaf based, rubber, automobile tyres, automobile sectors, insurance, sea related crude oil exploration, marketing companies of oil companies, chemicals, pharmaceuticals, railways, and other modes of transportation, communication and entertainment with many more segments like sugar, textiles, leather, electronic and electricals etc. may remain active with other segments.

Trade with the flow, Nifty may look for 18125 or so. Or better to say 100 points plus or so.

Indian Currency

Indian Rupee may trade in between 80.60 to 81.50 per USD.

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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.