Daily Forecast – Share Market – March 16th, 2023

Weekly Expiry | Nifty range 16900-17200 | Watch global impacts

Jupiter, Ketu with Rahu are leading the day, well supported by Mercury, Mars and Venus. Global cues may not be supportive. Keep a watch on local cues. Globally, issues related to economy are not strong. Impact and sentiments are weak.

Ketu and Rahu are indicating the same situation and sentiments as it was working previous trading day. That means market may try to show recovery from lower levels and further can show sell on rise.

Weekly expiry is another point of action during the day. Currency is again losing grounds. INR may look closer to 83 against USD. One may say that USD is gaining strength, but fact – INR is losing grounds.

I again believe that market may try to regain levels, but sell on rise will not be surprise. In my previous day’s observations, it was clearly mentioned that market may look for 17250 to 16950. Today market may test 16900 and may breach this level.

Watch with care FIIs, local announcements, geo-political and news related to various aspects which may affect the market.

Remember lord of banks and share market is less then 3 degrees distance from Sun, impact of total combustion is clear.

Areas like banks, financial institution, related infrastructure, alcohol, sugar and related products, cotton, communication and related instruments, keep a watch on IT and other sectors like chemicals, oil marketing companies, insurance, oil exploration, defence, aviation related to defence, logistics, and automobile tyres etc.

Nifty may trade within range of 16900 to 17200.

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.