Nifty Prediction : Nifty may trade within 19300 to 19550 | Trade with strict stoploss

Daily Forecast – Share Market – August 17th, 2023

Nifty may trade within 19300 to 19550 | Trade with strict stoploss  

China’s dipping sales and US Inflation and poor demand creating pressure

Ketu, Venus and Mercury are leading the day, well supported by Mars with Rahu. Secondly, Sun will move in own house and sign Leo at 13:32 Hrs (IST). Indications for the time – impact of foreign cues may be seen, hence pressure on the market, will not surprise me – at least in early hours.

This Ketu and Rahu may confuse Bulls and Bears both.

INR has crossed 83 against INR. US and China may further give indications for the weak economic situation. Undoubtedly, in coming period situation in the market may remain tricky. Weekly expiry is also tricky. After 13:32 Hrs (IST), we may see some changes in the mood and emotions of the market.

Nifty may remain within the range of 19300 to 19550. Trade to protect funds.

Planetary position is supporting the sudden changes with the improvements in levels, but Geo-economic situation is giving trouble. At the same time inflation in India is also critical. So, for long – it will be better to wait and watch.

It will be better to look for opportunities in automobile, infrastructure, power, reality, banks, IT, communication, logistics, metals, edible oil and edible products, agro-produces, Gold trade with care, entertainment instruments, communication instruments, cotton, readymade garments, fashion, chemicals and many more with electronics and electricals, alcohol with spirit etc.

Nifty may remain within 19300 to 19550. Trade with care and guards. Protect funds.

Indian Currency

Indian Rupee may trade in between 82.70 to 83.60 per USD.

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

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