Daily Forecast – Share Market – June 23rd, 2023

Nifty may trade within range of 0.5-0.6% (total range)

Rahu, Ketu with Mercury are leading the day, well supported by Mars and Venus. Moon is forming good relationship with Saturn and lord of banks + share market. That means banks and share market may try to protect own areas. At the same time neighbouring areas may also remain active, with border line too.

Nifty may trade within the total range of 100 points. FIIs may not be supportive, whereas local financial institutions may try to hold the levels.

IT is not giving proper direction (for positive movements), where as this IT segment is key bread earner for the nation. Banks and many more (consumables) are based on IT segments or employees of IT sector.

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.

Buying range may remain within 100 -150 points of Nifty.

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.