Daily Forecast – Share Market – April 10th, 2023

Nifty may look 17700 | Wave & Trimming on upper levels possible

Rahu with Mercury leads the day, well supported by Sun, Saturn, Mercury, and Venus. Importantly, foreign cues will be important. On date Rahu and Mercury are clearly indicating that market may show some positive movements. Majorly, foreign markets may remain close for the day.

Market may open with positive opening. Keep a watch on Banks and wave of the market. In the second half of the day, banks may show further movements. But profit booking also booking during the period.

Nifty may look for 17700. Banks and many more segments will be doing better to support the market. Importantly, IT is still cautious.

This movement in the market does not means that threat for economic recession is averted. Global economic crises are threatening in coming period. Reasons are unemployment, low income, inflation, falling demand, and affected GDP of various nations.

Banking system of various nation are under pressure. Financial institutions are playing important role in the market. It will be better to for very long be watchful and trade with strict stop-loss.

For the period one can be watchful for 17500 of Nifty to 17700 or so. Keep a watch on financial institutions.

Almost entire horoscope is active. Keep a watch on Gas and petroleum companies. Crude oil is maintaining its levels around 85 USD.

Many segments will remain active, importantly automobile, power, automobile tyres, banks and financial institutions, Pathology laboratory, chemicals, electronics and electricals, alcohol, sugar, textiles, leather, exports, defence and many more may remain active.

Take precautions for COVID related issues.

Nifty may remain positive and profit bookings on upper levels.

Indian Currency

Indian Rupee may trade in between 81.50 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.