Daily Forecast – Share Market – August 21st, 2023

Stoploss at 19275 (Nifty) | Nifty range 19300-19400

Nifty may show dull movements 

Sun, Mars with Ketu are leading the day, well supported by Rahu, Mercury and Venus. Foreign cues may play again important role during the day. FIIs may also play another key role during the day. Mixed impact from the foreign markets.

Crude oil may be roaming around 85 USD. INR May again maintain above 83 against USD. Inflation in India and global scenario is critical.

Nifty may test 19275. Possibly we may see some buying from lower levels, although not big movements. My feelings are that traders may not trade with positive emotions. It will be better to keep a watch on metal segments.

It will be better to be watchful during the week. Market may show some deceptive movements. Trade wisely. It will be better to protect funds as and when required.

Automobile and related areas including automobile tyres and batteries, infrastructure, power, banks may show stable movements or may remain close to their levels, it will be better to buy at lower and sell on upper, Alcohol, communication instruments, silk, cotton, fashion, financial institutions and many more may remain active.

Gas and petroleum marketing companies may remain active.

It will be better to trade with stop-loss at 19275 on the lower side. Nifty may remain around 19300-19400.

Indian Currency

Indian Rupee may trade in between 82.50 to 83.40 per USD.

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