Daily Forecast – Share Market – May 22nd, 2023

Nifty may test 18100 and look for 18300 | Buy on dips – sell on rise

Rahu with Ketu still leading the day, well supported by Sun, Mars, Jupiter, Saturn and Venus. New week is starting and last week for the monthly expiry. Indications are different than the previous weeks according to the planetary position and global news. Horoscope of US is not much encouraging for the current period.

Banking issues and inflation in US are key factors to show uncomfortable future of the financial leader of the Globe. News related to debts and its ceiling will be key for the week. Threat of default issues of US will be key for the coming week.

INR is losing its base and may be 83 against USD. Crude oil is maintaining levels around 75 USD.

Importantly, our market may behave according to the results of companies. Global cues may remain mixed. That means market may open close to previous closing. Banks are doing better, so it will be important for the market to honour this strength. Watch FIIs for FNO and cash movements. This will be important for the market in coming period.

I believe that market may again show trapped behaviour of the market and looking for the trigger on either side. So, it will be better to trade with care, and look for the opportunities.

Nifty may test -100 point of Nifty or better to say strict stop-loss at (-) 100 points of Nifty to the last closing balance. That means Nifty may test 18100. On the upper side Nifty may look for 18300.

Many sectors may remain active. Look for attractive rates of IT in coming period.

Nifty may test 18100 and possibly try to look for 18300. That means sell on rise and by on dips (with care)

Indian Currency

Indian Rupee may trade in between 82.40 to 83.20 per USD.

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