Daily Forecast – Share Market – April 2nd, 2023

Nifty may look for 17500 | Stop-loss important | Profit booking not surprising

Rahu, Ketu, Venus and Saturn are holding the key for the day. This week has two short working day. After a day’s working tomorrow will be holiday for share market. Next holiday will be on 07-04-2023. Planetary position indicates that bulk movements possible in today’s trading. That means planets are giving their strengths properly.

Possibility of gap-up opening, Nifty may look for 17500.

Few experts may think that due to bank’s stress in US, their spending may be reduced, which may give affect inflation. This is theory, but practical – awaited.

Rahu – Ketu may give sharp movements. Keep a watch on news from government. We have moved in one year bank of general election. So, announcements may come, which may affect the market in coming period.

Global news may also give some boost to the market for the day. Possibly Nifty may plan for some better jump in coming period. As I have already mentioned that Horoscope of China is supportive for them (for next two and half year).

Crude may show sharp rise in the prices. Impact of Jupiter (combust is evident). Currency is holding levels of INR 82-83 against USD.

FIIs and DIIs – keep again a close watch.

Market will be in positive one at the opening time. Watchful and energetic day. Even then at any time market may show profit booking (Rahu and Ketu are giving suspicion). Practically crude may hurt sentiment of our market.

This rise in crude may increase inflation globally, because of increasing consumption of crude. Crude may again look for upper side again (which we have already tested in Past months).

Areas – mainly all the areas may show the movements, possibly oil exploration, defence, banks and financial institutions, IT, communication, power, energy, pharmaceuticals, pathology laboratories, carbon black, automobile tyres (watch with care), insurance, chemical, alcohol, communication instruments, electronic and electricals, music instruments etc. may show action with other segments also.

Nifty may try to 174500. Profit bookings on upper levels. Do not chase market – if it is gap up opening.

Indian Currency

Indian Rupee may trade in between 82.00 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.