Daily Forecast – Share Market – May 23rd, 2023

Nifty may look for 18400 | Volatility possible | Watch geo-news

Rahu, Ketu with Jupiter are leading the day, well supported by Sun, Saturn and Venus. Horoscope of US is not comfortable for financial and other reasons for the time being. This may affect the geo-political and economic situation in coming period.

Local results situation is supporting the market, little bit of advantage to the market. Nifty may try to look for 18400 once again. Importantly, volatility is possible at any moment.

Purchasing capacity of common man in US and other markets of globe may remain poor, which may affect the demand in the market. This poor demand is because of inflation and unemployment in various countries.

Mixed cues may remain from foreign markets.

Banks may be giving some opportunities in coming period. IT segments have supported on previous working day, along with the equities of a particular (Adani) group.

Areas like textiles, leather, infrastructure, defence, telephonic instruments manufacturing, FMCG, fashion, alcohol, non-traditional, automobile, automobile tyres, automobile ancillaries, financial institutions, chemicals, pharmaceuticals, acid, solvents, carbon black, and many more may be showing movements.

Keep a watch on sugar and related segments.

Nifty may look for 18400 in coming period (may prepare) with some volatility. Keep a watch on news from foreign nations.

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.