Daily Forecast – Share Market – May 16th, 2023

Nifty may look for 18500 | Watch Gold | Stop-loss at 18250 Imp.

Rahu with Ketu is leading the day, well supported by Sun, Jupiter, and Mercury. Indications are again that Nifty may try to look for 18500 in coming period. I agree that lord of banks and share market is bit slow but gaining the speed for us. So, shortly Nifty may look for 18500.

Banks may also show movements during the day, along with many other segments. Indirectly almost all the segments are active. Moon and Venus are forming good relationship. Indications are clear that many segments may remain active.

This also possible that any stage trimming on upper levels possible. Stop-loss at 18250 will be important. Crude oil prices may roam around 75 USD. Keep a watch on Gold and Silver. Bonds in foreign nations may show some interesting movements.

I feel that areas like IT, communications, defence, metals, oil exploration companies, paints (watch with care), automobile tyres, entertainment, power, real estate, cement, logistics, space, non-traditional space related segments, alcohol, sugar, keep a watch on textiles and look for opportunities, chemicals, dairy and many more result based segments may remain interesting.

Nifty is looking for 18500 (as mentioned a month ago and repeatedly mentioned, we may be close to 18500 of Nifty). Stop-loss at 18250 will be important.

,Indian Currency

Indian Rupee may trade in between 81.80 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.