Daily Forecast – Share Market – June 12th, 2023

Nifty may be within range of 18500-18650 | Buy on dips (banks)

Rahu, Ketu with Saturn are leading the day, well supported by Mercury, Sun and Mars. Budh Aditya yog, is supporting the share market, whereas Rahu and Ketu are not allowing this market to look for decisive move for the market.

Energy prices are under control, whereas gas energy is bit tough. Crude oil because of many reasons, is around 75 USD. Nifty was within range in previous week. Now, market is trying to look for trigger from foreign nations. For today, nifty may try to recover from lower levels of previous day’s closing.

Currency may remain around 82.50 against USD.

I believe that market may look for another 18650 of Nifty. Banks may be again playing important role along with automobile. IT – which is supposed to be our bread and butter for employment is still under pressure.

It will be better to look for opportunities at lower levels. Banks may give opportunity from lower levels – buy on dips for a while.

Many segments may be showing movements, importantly – sugar, fashion, FMCG, midcaps, small caps, chemicals, textiles, leather, banks, automobile, power, infrastructure, communications infrastructure, reality, alcohol, non-traditional segments, financial institutions, insurance (keep a watch), pharmaceuticals, and many more related to health services etc.

Nifty may look for 18650 or so. Banks may give opportunities. Again, within range bound trades.

Indian Currency

Indian Rupee may trade in between 82.00 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.