Daily Forecast – Share Market – March 17th, 2023

Watch IT | Positive Opening possible | Nifty may trade within 16800-17100

Jupiter, Ketu with Rahu are leading the day, well supported by totally combust Mercury, Sun and Mars. I agree that Lord of share market is supporting own house, because is in Neech rashi and giving direct support, although is totally combust (within one degree distance from Sun), hence unable to give best of the support to the share market. Even then may try to support the levels.

Global cues may be disturbing, especially news from various financial or banking institutions from various parts of world. Crude is also under pressure, because of banking sector and feel of financial crises in banking sector of US or Europe etc. Reason is deposits Vs credits distribution. Central banks have to extend support to First Republic bank of $54 billion. US market is now expecting pause or low hike in rate of interest. But ECB has announced 0.5% increase of interest rates.

Possibly other banks may also look for funding (emergency). Suisse bank is also facing problem, credit is higher than deposits. So, geo-condition for banks is also matter of concern for the coming period.

Previous working day was comparatively better for positive closing.

Indications from the planetary position is – possibly lord of the share market may try to hold the levels with sam, dam, dund and bhed niti in coming period, but Jupiter will also be under pressure because of combustion stage.

Nifty may trade within 16800 to 17100. We may see some better opening. But sentiments are weak, today is last working day of the week. Banking and FED news is also changing fast.

Crude is weak, currency is also in the range of 82-83 against USD. Banks and IT are the main player for the Nifty’s movement.

Cement, automobile tyres, petroleum marketing companies, Keep a close watch on IT, also keep a watch on TCS because of corporate news, watch FIIs and DIIs, banks, chemicals, sugar and its by-products, defence companies, metals, and many more may remain active.

Nifty may trade within the range of 16800 to 17100.

Indian Currency

Indian Rupee may trade in between 82.00 to 82.90 per USD.

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