Daily Forecast – Share Market – February 28th, 2022

Nifty may look for 17600 + | Sudden wave or movements | Stoploss Imp.

Rahu, Ketu, Saturn and Mars are leading the day, well supported by Moon. All the malefic planets are ruling the day, indications are that market may show impact of foreign market impacts, which may give buying from lower levels. Rahu-Ketu may give wave like movements. Possibly opening may remain positive.

Crude is rising, but may remain below 83 USD, currency is again maintaining rates. Ukraine-Russia war has completed one year mark. Still going on.

Volatility in the market is possible in various segments – like IT, Banks and related segments. Importantly automobile related EVs may remain better. This may help automobile tyres, automobile batteries etc.

GDP of various nations are not encouraging. So, for a long, I am bit suspicious. Intraday – market may show better. Even then profit bookings at any time is possible. Consumer spending in our market is not as good as it should be. Reason is breach in income of middle-class segments. Upper levels are going for buying, purchasing. But their range of market and products are different, whereas mass consumption is buy middle class, lower middle class.

Defence, chemicals, leather, paper, ore, coal, electrical and electronics, communication instruments, entertainment instruments, cotton, silk related, bio-technology and related segments, dairy products, logistics, aviation (defence related), space, e-commerce, e-entertainment, pharmaceuticals, carbon black, oil exploration related segments and many more like storage and travels and tours etc.

Nifty may look for 17600 or so. Nifty may look for next levels. Even then any wave like movement is possible.

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.