Daily Forecast – Share Market – May 17th, 2023

Nifty may test 18250 | Buy on dips possible | Global indications suspected

Ketu with Rahu leads the day, well supported by Sun and Saturn. Market may show tiring way the period. Someone may say consolidation. But I feel that market is looking for the direction from the heavyweights.

Once again I must say that stop-loss of 18250 will be important. Otherwise possibly market may show some light recovery from the lower levels.

Globally, market may show mixed indications.

Crude may hold its levels around 75 USD. US market may be under pressure because of financial reasons of nation.

We have entered in the range of General elections mode. So, policies may be accordingly. Which may affect the market in coming months. Financial issues and inflation is key for the growth of nation along with the unemployment issues.

Watch banks, after the resting mode, this bank segment may look for breathing time. FIIs may show some more selling. On the upper side, Nifty may try for 18500 in coming period. Global scenario (planetary position wise) is not good. So, nifty may test 18250.

Many segments may be showing movements along with midcaps and small caps.

Gold is indicating that pressure on share market (in coming period will not be surprising).

Indian Currency

Indian Rupee may trade in between 81.90 to 82.60 per USD.

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