Daily Forecast – Share Market – April 12th, 2023

Nifty looking for 17800 | Nifty may build path for 18000 ? Buy on dip

Rahu, Mercury with Ketu and Venus are leading the day, well supported by Sun. Once again, market is looking in better emotions. Rahu is playing bit better role during the day for the market. Interestingly, during the period of combustion of Jupiter, market has started rising from lower levels and crossed 1000 points of Nifty.

That means this zone of the market is 1000-1500 of Nifty points. Nifty may look for 17800 and try to build a path for 18000. It will be interesting to watch the path to 18000. Resistance levels will be important for the market.

Local issues and reasons will be much important after 12 noon of the day. Current period can give political ‘Tod-Fod’ in various political parties. Although, this may not affect the market during the period, but may give some impact in coming period of the political and other issues of nation.

As it was mentioned in my last post, that period is for buy on dips will be better, with strict stop-loss. GDP of nation is still under pressure, according to IMF. Inflation and unemployment (global) is again giving alarm – that global economy is inching towards recession.

Banks with financial institutions may remain interesting. Rahu indicates controlled movements in the market. Tomorrow is weekly expiry and day after tomorrow – market will remain close. Market may take guards according to the local news after closing of the market.

Tomorrow, market will be in the influence of news/announcements from government/government agencies and news from US Fed.

Again, many segments will remain active. Currency is again above 82 INR against USD. Crude oil is maintaining close to 85 USD. Global growth according to IMF is again on the lower side.

Financially, global giants are believing inflation Vs Financial sustainability. Astrologically, global scenario will be clear after 22-04-2023. Market is controlled by bulls.

Nifty may look for 17800. Whereas global financial cues are not good. Remember, tomorrow will be weekly expiry, market may behave accordingly. Keep watch on IT.

Indian Currency

Indian Rupee may trade in between 81.80 to 82.60 per USD.

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