Nifty Prediction : Nifty may show pressure on upper levels | Wait for first hour

Daily Forecast – Share Market – September 25th, 2023

Nifty may show pressure on upper levels | Wait for first hour

Mars, Venus with Sun are leading the day, well supported by Moon, Rahu, Ketu and Mercury. Indications are clear that impact of foreign cues, at the same time local issues which are involved with the foreign issues.

Nifty may test 19600 but may also show some buying from the lower with some restricted emotions. I agree that cashflow in the market is not comfortable. We have moved in the week of monthly expiry, so it may be again mixed week, with some buying from local. Upper side nifty may look for 19725.

Little bit of changes may be seen in emotions after 12:00 Hrs (IST) (may be around this time). Global cues are not comfortable. Production and consumption of various products are down. Indicating economic situation of globe is week, which may influence the emotions of the traders in coming period.

It will be better to sell in rallies. Reason is weak emotions of the market trends/emotions and planetary position. If no rally for the first hour, then pressure on the market may be seen during the day.

Movements in many segments may be seen. Sugar, Automobile, non-traditional segments, power, infrastructure, realty, alcohol, by-products of sugar, watch banks, financial institutions, pharmaceuticals, healthcare, fertilizer, and many more like chemicals, space, defence etc.

Nifty may test 10600 and better to have stop-loss at 19750. Sell on rallies (if any). Wait for the first hour.

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.

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