Daily Forecast – Share Market – April 28th, 2023

Nifty may look for 18075 | Wait for Profit booking | Wait n watch first hour

Rahu with Ketu is leading the day, well supported by Mars, Jupiter, Saturn, Mercury and Venus. Global cues may be influencing the market. Possibly Nifty may enter in 18000 levels. This will be a move before a extended weekend. Monday will be non-working day for the trading market.

Banks may support the market during the day. This is also fact that nifty may remain in the range of 17800 to 18075. Wait for first hour of the market ie. 09:52 Hrs (IST). Market may show trend for the day after 09:52 Hrs (IST).

Hold the long trades and look for the opportunity. Remember Monday is non-working day for the market. Next working day, market may look for our own strengths and weakness. So, I feel that market on 02-05-2023 will be smooth.

IT and related segments are still not comfortable. Globally, market is still weak for IT. Whereas, consumption in our market may also remain suspected. I am not commenting in terms of data flashed.

Possibly, impact of general election of 2024 after a year will be key for our coming period.

Banks, financial institutions, chemicals, solvents, rubber, automobile tyres, automobile, sugar and related segments, entertainment, textiles, leather, pharmaceuticals, insurance, metals, petroleum marketing companies, electronics and electrical, communication instruments, non-traditional segments, space, defence related segments may still remain attractive for the coming period.

Nifty may look 18075. Wait and watch till 09:52 Hrs (IST).

Indian Currency

Indian Rupee may trade in between 81.60 to 82.30 per USD.

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