Nifty Prediction : Nifty may show volatility and look for 17550 | Global emotions important

Daily Forecast – Share Market – February 28th, 2023

Nifty may show volatility and look for 17550 | Global emotions important

On last working day of the February, and Mangalvar of the week, Mars with Rahu is leading the day, well supported by Mercury, Saturn and Ketu. Malefic planets are holding the key to the day, along with only one soft planet Mercury. Indications are that fear in the market is still pressurising the market. Global cues may be heavily effective for the day. I agree that initially market may show some rise because of foreign impacts. But Fear is so heavy among the retail traders (bread and butter of the market), they are ignoring the market. Instead of that possibly money may be diverted fixed income segments.

Keep a watch on FIIs. This will be important for the day.

Banks may be better for the period. Importantly, IT may not be supportive. Market may wait prefer to wait for the actual data for GDP, so that its impact will be seen on 01-03-2023. Globally, political and financial aspects are important to look for the March market.

Keep a watch on non-traditional segment, banks, financial institutions, power, metals, ore, engineering, electronics and electricals, communication instruments, aviation, infrastructure, cement, chemicals, sugar, textiles, leather, aviation, defence, and many more with automobile tyres, logistics etc.

Nifty may show volatility. Sudden movements possible like a wave.

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.

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