Daily Forecast – Share Market – October 13th, 2023

Watch IT | Nifty may test 19700 | Last hour – sudden moves (either side)

Mars with Ketu leads the day, well supported by Rahu, Sun, Moon and Venus. Local news related to inflation may give some relief, but global cues may not be much supportive. Pressure or sell on upper levels will not be a surprise.

Nifty may show / breach 19700 or so. It will be better to watch the trade during the day. In the last hour of the day, market may show some sudden moves, watch and move accordingly. Now it is indicated that INR may remain above 83 against USD.

US market is facing inflation issues. Which had influenced pressure on the global economy and market. Remember IT is based on total Job work sort of business from out of India, so their fall will affect us deeply (in IT), this segment is one of the main bread and butter for India.

Changes in Monday’s geo-situation (political and economic/market) may be seen. Which may give impact on our market. This type of trend may continue till 28-10-2023 (solar eclipse to Lunar eclipse). I expect Volatility during this fortnight (mainly because of global reasons).

Crude oil may remain around 85-90 USD.

Action in IT, communication, defence, power, banks, space related, and other defence related segments may show some better movements, metals, edible oil, coffee, tea, leaf-based segments, fashion, alcohol, not traditional segments and many more may show movements.

Today is Friday, so before closing be watchful. Avoid traps, be smart. Nifty may test 19700.

Indian Currency

Indian Rupee may trade in between 82.60 to 83.50 per USD.

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