Daily Forecast – Share Market – August 24th, 2023

Congratulations to everyone for the successful landing (soft) on Moon by India.

Nifty may look for 19550 | Keep a watch on banks, space etc.

Ketu with Sun leads the day, well supported by Mars, Rahu, Saturn, Mercury, and Venus. Three key planets are transiting retrograde, they are Saturn, Venus and Mercury. Chances of betterment under some critical situations are possible. I feel that opening of the market will be better for the coming period (possibly a week).

Impact of foreign cues may be better. Banks and financial institutions may be ready to support the market with space and related segments.

Nifty may look for 19550 or so. But suddenness is also possible at any moment (because of three retrograde planets).

Crude oil may roam around 80 USD. We may also see strength in INR against USD. This may again give impact on the market. But we should not ignore the impact of slowing down of global economy, which may be reflected on the levels of crude oil.

We may see paying respect and tribute to the companies related to the space, rocket and others, so market may respond positively in the same segment (this will be according to the Desh, Kaal and Patra).

On expiry day, it will be better for some time and move accordingly. Planetary position is indicating some better moves during the trading session. If it moves positively, we may see reversal moves after some days.

Segments like banks, financial institutions, may give support (although some deceptive moves possible), space, related instruments, power, engineering, oil exploration and multiple organization, logistics, watch IT and look for opportunities for the coming period, alcohol, spirit, sugar, textiles, leather, fashion, infrastructure, and many more may remain active with non-traditional segments.

Nifty may look for 19550 and stoploss at 19350 will be better.

Indian Currency

Indian Rupee may trade in between 82.30 to 83.10 per USD.

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