Daily Forecast – Share Market – March 13th, 2023

SVB’s Impact in Indian startups | Volatility Key | Nifty range 17250-17500

Mars, Ketu with Jupiter are leading the day, well supported by Rahu, Saturn and Mercury. Foreign cues are again important. Lord of banks and share market for India is heading for total combustion, which will start after closing of the market. Indications for the market is not comfortable. Global cues may not be supportive. Keep a close watch on various global news.

Importantly issues of Silicon Valley bank and Silvergate bank may affect along with the Fed Meet is also ahead. It will be better to be watchful during the trade.

SVB’s impact will be big, although is small bank for US, FDIC has intervened in this bank. Because of low deposits against heavy loans disbursements. This has affected startups not only in US but also in many other countries including China, Germany, UK and others. 12 big tech companies may also be affected with this trouble. Although FDIC has said that SVB will be opening on 13-03-2023. Initial issues might be resolved.

Volatility is key factor for the period. Although News from Adani group may give some relief. Local news may be bit better.

Recovery from lower levels might be possible. Keep a watch on FIIs.

Traders – cautiously move will be better. Volatility is Key for the day. Nifty may show pull back, but it will be better to watch with care. Nifty may trade within the range of 17250-17500.

Indian Currency

Indian Rupee may trade in between 81.40 to 82.20 per USD.

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