Daily Forecast – Share Market – March 10th, 2023

Nifty may breach 17450 | Wait and watch then decide if…

Rahu, Mars with Mercury are leading the day, well supported Jupiter and Ketu. Importantly, Rahu is very powerful, and foreign cues are playing important role for the market. Impact of alternate currency (crypto or likewise currency) may be cause of concern (Rahu is powerful). Now, major organizations and giants of industrial sector or financial giants may be further affected with this bankruptcy. Organizations where transactions through crypto currency were done or allowed may also be under pressure.

Banks and related segments may also be affected bit negatively. Market may further be in negative zone or with negative sentiments. Because of global cues. FIIs may be compelled because of their internal reasons, they may further pressurise the market. Crude around 82 USD.

In my last week’s observations clearly mentioned before runup to avoid the trade (for casual traders) because sudden dips cannot be controlled by casual traders.

Still sentiments of the market is suspicious. It will be better to wait and watch. Let the market settle down. Today is last working day of the week. Job data of US and other news from various nations will also be awaited.

Companies related or working for defence related companies may be doing better, it means defence related segments are safe for investments. Such companies – either PSUs or Private sectors.

Sudden changes possible. Nifty may breach 17450. Sell on upper levels and possibly some buying at lower levels. But it will be better to be cautious.

Nifty may breach 17450 and may look for 17600. Wait and watch policy will be better. Impact of alternate currency will be seen heavily – even on some of business tycoons.

Indian Currency

Indian Rupee may trade in between 81.70 to 82.50 per USD.

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