Daily Forecast – Share Market – September 13th, 2023

Nifty may look for 20050 | Stoploss at 19900 (nifty) will be better

Venus with Ketu leads the day, well supported by Moon, Mars, Rahu and Mercury. Yesterday’s market was bit tricky, and had some profit bookings, but finally recovery from the lower levels.

Pressure from banks in the last retrograde its lord – may be possible.

It will be better to watch foreign cues and move in local market. I still believe that market may again move towards 20000 (Nifty). Sensex may show better recovery, as it had shown in previous days market session.

Crude is again inching towards 95 USD. INR is close to 83 per USD.

Range is close, because of slow moving lord of share market and banks. IT may show some strength, with logistics and Automobile and its ancillaries. Final period for election has started, remember, policies from the government may be to provide comfort for the mass. Which may give impact on voters (especially rural and mass). Middle class may not get the best of advantages.

Watch FIIs, because their support may give another jump from the lower – like previous day.

Many segments may remain active. Railways, logistics, space, IT, web-based segments with sugar, alcohol, spirit and many more.

Stop-loss at 19900 for Nifty will be better. Sell on upper side also possible. Whereas chances are again that market may look for 20050 of Nifty.

Indian Currency

Indian Rupee may trade in between 82.40 to 83.30 per USD.

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