Daily Forecast – Share Market – June 21st, 2023

(+/-) 75 points from Previous closing | Ups and down possible

Mercury, Mars, Rahu and Ketu are leading the day, well supported by Saturn (Retrograde). As it was mentioned in the previous post that market may show recovery from lower levels, it was seen in the last hour of last market session.

Impact of foreign cues cannot be ignored – even then, situation in our market is not bad. Rahu is always ready to give ups and downs, but Ketu and Mercury are ready to give support to the market. This is also true that US market is regularly showing some pressure.

Today again I feel that market may try for upper levels, may give indications for 18900 also for Nifty. Keep a watch on FIIs and DIIs.

Look for opportunities in banks and financial institutions. Because lord of banks will be moving in own house in next week. Hence, supposed to give protection to banks and financial institutions.

Defence related to aviation will be interesting in coming period also. Keep a watch on space and defence related segments for the period after 2025 for 7 years.

It will be better to keep a stop-loss for -75 points from previous closing levels and upper levels may show movements within + 75 points of Nifty.

Currency is maintaining its levels, whereas crude oil may hold levels around 75-76 USD.

Areas like automobile, power, banks and financial institutions (look for opportunities), alcohol, non-traditional segments, electronics and electricals, automobile tyres, batteries, sugar, textiles, leather, petroleum products, green energy related genset, communication instruments, entertainment, chemicals, insurance and many more may remain active.

Nifty may look for 18900 and stop loss for 18700 will be better.

Indian Currency

Indian Rupee may trade in between 81.70 to 82.60 per USD.

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