Nifty Prediction : Deceptive opening | Avoid chasing positive opening | Stop-loss Important

Daily Forecast – Share Market – May 18th, 2023

Deceptive opening | Avoid chasing positive opening | Stop-loss Important

Ketu with Rahu is again leading the day, well supported by Sun, Saturn, and Venus. It will be better to trade for small trades. Nifty may try to look for 18250, but it will be better to fix strict stop loss at 100 points lower than the previous closing value.

Because of global scenario, market may show some better opening. It will be better to avoid chase of the market. Wait and watch policy will be better. Possibly, because of our own reasons, market may show profit bookings at upper levels.

Keep a watch on fashion segments. Crude oil may show above 75 USD.

Automobile tyres, paints and related segments may also remain better. Keep a watch on Banks. This may help the movements of Nifty. We are heading for the IT segments, look for economical prices of many good companies.

Because of financial situations and higher inflation, middle class may not be in a mood to buy AC or related segments, which may affect the demand of the companies. Keep a watch on electrical goods manufacturing segments.

On pen and paper possibly inflation is reflecting reducing, but for common man, this can be still troublesome, and may affect demand in coming period. Rahu and Ketu are indicating issues related to common man.

Nifty may look for 18250 and stop loss below 100 points of previous day’s closing.

Indian Currency

Indian Rupee may trade in between 81.90 to 82.80 per USD.

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

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