Daily Forecast – Share Market – August 14th, 2023

Nifty may trade within 19300 to 19525 | Volatility Possible

Wishing you all Happy Independence Day

Mercury with Venus (Rx) leads the day, well supported by Sun, Mars, Rahu, Ketu and Jupiter. Tomorrow will be no trading in the market because of “Independence Day”. Market is cautious, because of global cues and if I talk in terms of planets then Rahu-Ketu may give volatility or pulling the sentiments down.

US and China are not encouraging the situation. China is showing deflation in economy. Many industrial institutions may face financial crises.

As I have mentioned in my prior posts that Saturn will give Justice, and China is facing now concern issues. Now, others who are not understanding the strength of Judiciary lord Saturn, may have to face within next one and half years of “Shani Shasan” in own house and sign.

Time to watch Banks and if required then book profits – especially in Bank Nifty. Watch FIIs and DIIs act. FIIs may sell again. Nifty – sell on rise will be better for a while. We may see pull back at lower levels, but be watchful. Geo-trade situation is not good. India and US are preparing for the Elections in 2024. India is within months distance of General elections.

INR may face pressure, preparing for 83 against USD. Crude oil is roaming around 86-87 USD. Look for opportunities in Copper.

Many segments may look active on either side. Mid-caps and small caps may show some better moves. Nifty may remain within 19300 to 19525.

Indian Currency

Indian Rupee may trade in between 82.20 to 83.00 per USD.

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