Daily Forecast – Share Market – April 18th, 2023

Buy on dips | Avoid chasing| Sell on rise

“Mangal kare Mangal”

Rahu with Ketu is again leading the day, well supported by Moon, Saturn, Mercury, and Venus. Volatility is key for the day again. Remember, trade deficit may also affect the business market in coming period. Engineering and related goods with service sector may also show impact on exports (I mean growth may not be as – as it should be in coming period).

I wish “Mangalvar kare Mangal” for the market.

Neighbouring countries may be cause of impact on exports. IT is facing issues, which we were reflected earlier by reducing their staff strength. In layman’s term – firing the staff/laying off the staff.

Globally, banks are facing issues, I agree that support by their treasury had protected by the time, but it’s an alarm from other nations also. Resulting Gold got the jump or faith of investors has increased for gold.

Local issues may not be encouraging for the day. Geo-business conditions may remain mixed. Volatility is quite possible.

Nifty may further test 17700. Still buy on dips may give some benefits. Astrologically – Nation’s middle class is under financial stress, either because of loss of job or increments are not at par with inflation. But practically, this market is not justifying pressure on income of middle class, because their spending power is affecting demand in the market or may give further cut in demand like 2019.

Banks are interesting, keep a watch on FIIs and DIIs. IT and related segments are under pressure. Electronics marketing segments may be doing better, but manufacturers have to compete with foreign goods, defence, alcohol, spirit, sugar, chemicals, automobile, automobile tyres, paints and related segments for housing like cement and many more may remain active.

Buy on dips. Nifty may be in the range of 17575 to 17800. Book profits on upper levels (as and when required.)

Indian Currency

Indian Rupee may trade in between 81.70 to 82.50 per USD.

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