Daily Forecast – Share Market – March 27th, 2023

Nifty may open with smiling note | Range for Nifty 16800-17100 (Again)

Rahu with Mercury leads the day, well supported by Moon, Saturn, Ketu, Venus and Mars. Importantly, Rahu will be playing important after two hours of Opening of Market. Which may give sudden movements or waves Ups and downs after this time. Remember around closing hours foreign cues may be key for the closing and opening of next day.

Secondly, this week will have one day short for the business, because on Thursday, market will remain close for the business purpose. Hence, monthly closing will also be one day advance, ie. 29-03-2023. Closing will be day after tomorrow.

I believe that market may open with little bit of positive touch but with shaky emotions. Reason is smoky field is still around the global economy, which include us also. Reason is our main source is Job work business in IT segment. Hence, our consumption theory for manufacturing segment is also relatively affected accordingly.

Initially, market may react to the global scenario and Nifty may look for 17100. But one should not forget the levels of 16800 (Nifty). Keep a watch on Banks and financial institutions. Global environment related to banking system is key, which may affect startups.

Currency is again in the levels of 82-82 / USD. Crude is still around 75 USD in Brent. Keep a watch on Gold also. Because when banking crises and crypto is under pressure, then chances of investment in gold may increase or also keep a watch in real-estate (slowly and gradually) – in US.

Which may give impact on the market. Our tax-structure in F&O may also affect the market in coming period.

DIIs are trying to hold the market, but how long without funding from common traders (because of their economic situations and past tricky market situations and losses to casual/common traders). Their loss has given advantage to the traditional (professional/giant) market players. Not only in India, but also in US or global market. Globally, governments are trying to support banking system (but how long).

Keep a watch on Petroleum marketing companies, petroleum-based segments, automobile tyres, logistics, chemicals and many more. Importantly Banking and financial institutions are important.

Keep a watch on Pharmacy.

Nifty may trade (again) in the range of 16800-17100). Keep a watch after 11:00 Hrs (IST) and at the time of closing also.

Indian Currency

Indian Rupee may trade in between 82.10 to 82.80 per USD.

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