Daily Forecast – Share Market – September 18th, 2023

Profit bookings/Trimming possible | Range bound trade possible

Mars with Venus is leading the day, well supported by Sun, Moon, Ketu, Rahu and Mercury. Confusion in the market will not be surprise for me, because of Global issues or cues and India’s upbeat mood to cross 20000 of Nifty and holding this levels.

Key planets Saturn and Jupiter are transiting retrograde. Tomorrow will be a holiday for the Indian market, so chances of little bit of Profit bookings will not be a surprise. Bank nifty has picked up, but cautious move will be better with keeping an eye on global cues during the week. News from various Central banks with their announcements etc. Keep a watch and look for opportunities on either side.

INR is trying to check above 83 against INR, crude may look for 95-96 USD. Lord of share market and banks has started transiting direct, speed for is picking up, but still little bit slow. So, we may see market within small range ie 20150 to 20250.

Watch defence related segments (almost all), IT, banks and financial institutions, infrastructure, power, automobile and tyres with batteries, also keep a watch on automobile ancillaries, alcohol, non-traditional segments, communication instruments, radar, space, logistics, transport all the surfaces, travel and tourism, chemicals, pharmaceuticals, fashion, leather, pharmaceuticals with many more segments may remain active.

Nifty may remain within Range 20150 to 20250 or so. Watchful trade will be better. Long term traders can look for opportunities within this week (after getting indications on weekend).

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.