Daily Forecast – Share Market – June 20th, 2023

Nifty may trade within (+/-) 75 points | Stop-loss essential

Rahu, Ketu with Mercury are leading the day, well supported by Jupiter, Mars, and Moon. Importantly, foreign cues may not be so good to support the market. Deceptive day for the traders. Recovery from lower levels and pressure on upper levels possible. Nifty may again try to look for the upper levels and pressure is also not surprising.

Nifty may look for 18800 and pressure on upper will not be a surprise. INR may again look for 82 against USD. Crude may be around 75-77 USD.

This is also fact that market is bit confused and looking for the trigger for the direction for the coming period. Remember, Saturn has started transiting retrograde, which may also affect the market and approach of the traders.

Lord of the banks and share market is ready to move in the sign of Gemini and house of banks. That means in coming period for some period banks and market may show better levels (incoming period).

Look for opportunities in banks in coming period.

Again, along with defence, IT, communication, infrastructure, power, metals, alcohol, spirit, non-traditional segments, be watchful for railways related segments, look for lower opportunities in banks in coming days, chemicals, acid, jewellery, fashion, communication instruments, shipping GPS, electronics chips related, automobile tyres, automobile etc. may give better movements.

Nifty may look for 18800, but stop – loss of 75 points lower that the previous close and watch 75 points on upper levels.

Indian Currency

Indian Rupee may trade in between 81.70 to 82.50 per USD.

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