Daily Forecast – Share Market – August 22nd, 2023

Nifty stop-loss @ 19250 | Allow market to sustain levels for 19400

Rahu, Ketu with Sun are leading the day, well supported by Sun, Mercury and Venus. Importantly, key players like Rhu and Ketu are highly active for the day. Remember, in past 3 years, US has pumped cash in the market, whereas employment opportunities are high, average earnings have also gone up, so wages demands have gone up.

Bonds in US markets may go up. Which can be analysed by the financial experts – whether is good for stock market or not!

China may furth give some alarming situations in coming period. That means geo-situation is not comfortable for the market in coming period.

For our market, allow the market to sustain levels, chances may be better to sustain the levels. Wait for Banks also. It may be better to stop-loss at 19250 of Nifty levels. If market sustains, then can buy with care for short ranges.

I am watchful for global economic situations. Inflation in India is on higher side.

Keep a watch on banks, financial institutions, power, automobile, automobile tyres, crude oil is maintaining its levels. INR is losing its base. Alcohol, non-traditional segments, fashion, leather, paper, insurance, chemicals, sea related segments, watch IT at lower/attractive rates, textiles, cotton, communication for the coming period may show movements.

Trade within range. Stop-loss at 19250 of Nifty, which may look for 19400.

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.