Daily Forecast – Share Market – May 19th, 2023

Nifty may look for 18250 | Stoploss of (-) 100 points of previous close

Ketu, Rahu with Sun are leading the day, well supported by Saturn. Deceptive chances.

Nifty may look for 18250 and stop loss below 100 points of previous day’s closing. Keep a watch on Japanese economy along with US and China. Indian market is holding levels of 18100 of Nifty. Banks are still supporting. Nifty may look for 18225, but stoploss of (-) 50 points of previous day’s closing will be very important.

Sell on rise and wait for pull back opportunity. We have entered in the last week of monthly expiry. Still deceptive market is a threat to the traders as well for the investors. Banks are playing some positive movements (still).

Reality, infrastructure may be giving some indications for the market or support to the market. Deceptive planets Rahu and Ketu are having strong hold on the market, even then market has gone up. Possibly once again this combination may try to show some pull back, so it will be better to look to avail this opportunity.

Crude and currency may increase pressure on our market.

Areas like textiles, leather, engineering, electricals, communication instruments, cotton, power, non-traditional segments, alcohol, spirit, sugar, copper, chemicals, pharmaceuticals, FMCG, watch aviation, IT may be preparing for the coming period (just after this fear of recession), automobile tyres, green energy related segments may be attractive in coming periods.

Nifty may look for 18225 and stop-loss of 18075 will be important.

Indian Currency

Indian Rupee may trade in between 82.20 to 83.00 per USD.

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