Daily Forecast – Share Market – June 16th, 2023

Buying from lower levels | Nifty chances for Upper levels | Watch closing

Rahu with Ketu is controlling the day, well supported by Sun, Moon, Mars, Saturn and Mercury. Global cues may remain better and supportive for the local market, which is last working day of the week. From 17-06-2023 lord of Judiciary, karma, religion (for India’s Horoscope) will start transiting retrograde (Ulti chaal) in own sign. Next few months may give us results accordingly.

This period may give us actual picture of global scenario and our own internal system. Market may be affected accordingly. China has announced low rate of interest to infuse liquidity in their manufacturing sector. Which may give boost to their employment, which was 20%+ in the last declared data.

Crude oil is within range of 70-75 USD. INR may also show better levels.

Recovery from lower levels possible. Nifty may try to look for upper levels. Liquidity in our market (share market) may improve. But no comments related to employment and purchasing capacity of middle class people of our Nation. We all know that major buyer of various consumer able goods is middle class, which is not getting any breathing space during this period.

Opportunities in banks, IT (look for good companies – and wait for reasonable prices which were very high previously), head count based business related IT companies (may remain interesting), railways (manufacturing) related segments, power, leaf-based, dairy related, alcohol, spirit, sugar, textiles, leather, chemicals, pharmaceuticals, communication instruments, space, entertainment, automobile, automobile tyres, automobile ancillaries, financial institutions, and many more segments may show movements. Keep a watch on mid-caps and small caps.

Opportunities at lower levels, Nifty may try to look for upper levels.

Indian Currency

Indian Rupee may trade in between 81.60 to 82.40 per USD.

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