Daily Forecast – Share Market – April 17th, 2023

Lazy Opening | Volatility Possible | Chances for Buy on dips

Rahu with Ketu is leading the day, well supported by Moon, Jupiter, Mercury, and Venus. Local companies and their performances may be important for our market. Market is opening after extended weekend.

Sentiment may show volatility in the market. Possibly, market may open with negative move. Possibly Nifty may breach 17800. Keep a watch on diesel sell in the market (global), which may give indications for slow industrial demand of diesel.

Rahu and Ketu may give some confusing status of market (globally). Globally, Solar eclipse will be affective on and after 20-04-2023. India may be affected due to foreign impacts. Reason for our market – IT segment is key for the business sector (Revenue wise), we are not manufacturer (basically), doing work on demand in the market. Europe, US, Arabian countries and many more are key market for us. Any setback in their market may affect us.

Still, market is indicating for buy on dips. Certain segments may face pressure on exports.

Keep a watch and buy on dips for Banks, financial institutions, insurance, logistics, automobile tyres, automobile, chemicals, communication, batteries, paints, cement, infrastructure, power, healthcare (because of some covid related issues, or health related issues), rubber and many more. Keep a watch on news from China, Japan and other nations.

After one year of Russia and Ukraine war – market is affected but digested the setback.

Nifty may show some Volatility in the market. Nifty may breach 17800. Crude oil is still around 86 USD.

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.