Daily Forecast – Share Market – October 16th, 2023

Nifty may test 19700 | Global news Important

Nifty may within range of 19550 to 19800 

Mars, Rahu with Ketu are leading the day, well supported by Venus. Impact of Israel and Palestine war will be seen on the crude oil prices. Main sector during the COVID period – IT is now under pressure, because of some reasons. Banking sector and financial issues are time to time pressurising the market.

Indications for the day – heavy influence from global market will be seen during the day. Impact of Solar eclipse in global market will be seen during this fortnight. Volatility Ups and downs will be seen. If in the second half of the month market dips, then one can pick at the better prices for next fortnight. That means for after Lunar eclipse- If market rises before 28-10-2023, then it will be better to be watchful.

Reason will be – Lunar eclipse will be very close to the house of share market and gains. But again, in the hose of foreign lands. So, watch the issues related to foreign cues (political and financial issues), and trade with care.

Nifty may show some dip on upper levels recovery from lower levels or may show volatility. Reason is – after lord of foreign lands, Rahu is playing heavy role during the day.

Nifty may trade within the range of 19550 to 19800. Trade wisely.

Crude oil has given indications the impact of Israel – Palestine war and involvement of Iran and other nations from either side. This may give impact on India also. GDP of India is better, but per capita income is not improving. Which may be cause of concern in coming period. As, very few traders are making money from this trade and majority is losing the funds. So, be wise, and trade wisely. Study company’s balance sheet, financials and other data before entering for the investment or trade.

Many segments may remain active. Rahu may show sudden movement, today and tomorrow also.

Nifty may remain within range of 19550 to 19800.

Indian Currency

Indian Rupee may trade in between 82.70 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.