Daily Forecast – Share Market – July 17th, 2023

Nifty may look for 19600 or so | Movements restricted with Positive touch

Ketu with Jupiter leads the day, well supported by Mars, Rahu, Mercury and Venus. Positive mood with the impact of foreign cues, which may indicate that movements may remain positive and with pressure. That means not movements, but Ketu may again give opportunities to move further to the upper levels.

Trouble with IT giants may remain cause of concern, whereas mid/small caps of IT may trade with better indications.

Banks are better but avoid chasing the gap. Banks – if required book profits. Even then opportunities may be available.

Nifty may look for 19600 and indicate plan for 19700 or so.

Crude is rising, at the same time because of government’s step, petroleum prices may be affected. Although, inflation of food index is high, and is tough for the layman.

IT may avoid the race of Nifty to 19700. But other segments are active. Logistics, automobile, automobile tyres, shipping or sea related, insurance, healthcare, power, infrastructure will be active in coming period, interior related to reality, fashion, leather, textiles, and many more like electrical and electronics etc. may show movements (may be restricted).

Nifty may look for 19600 or so, may prepare for 19700 in coming period. Although inflation (food) is high. Cashflow in the market is decent. Watch financial institution.

Indian Currency

Indian Rupee may trade in between 81.70 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.