Daily Forecast – Share Market – April 21st, 2023

Nifty Range again 17575 to 17750 | Buy on deep dips

Rahu, Ketu with Venus are leading the day, well supported by Moon and Mercury (at the slowest speed for us). This Mercury will start transiting retrograde. Despite of lazy movements from foreign cues, but our own performances may affect the market in coming period. This is also fact that we cannot ignore global movements – reason is – our major segments are based on foreign trades (like IT).

Last day of the week, global markets are not energetic for the economical reasons. Market is still indicating weakness, still market may wait for bottom. Wait and watch for very long. Situational based trading will be better.

Globally, pressure is clear, crude is down, giant vehicle manufacturers are indicating price cut. Other companies (giants of world) are indicating reducing the staff strengths (actual word is firing of staff).

Market may maintain a range, because lord of share market and banks will start transiting ULTI Chaal (Retrograde transiting). Market values at and around 14:05 Hrs (IST) may repeat within next 15 days.

Traders must take deep breath and think properly – how to come out of this trapped market trends.

Results may drive (few giants) towards 17800 in coming days but remember market may also give a swing for 17475 in coming period, because we are heading for expiry week. So, big swing is also possible in the coming week.

Dips may give opportunities for buy and upper levels may give opportunities for profit bookings.

Keep a watch on IT, insurance with sugar, jewellery, alcohol, communication instruments, sea based segments, non-traditional segments etc.

COVID is still alarming. Tomorrow Jupiter will move in Aries sign, so I hope some changes in the figures may be seen in CORONA cases. As and when required take necessary precautions.

Nifty may trade within range. Keep a watch on global news related to economy. Situation for the global economy still under pressure. Planetary changes may give direction in coming week or period.

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.