Daily Forecast – Share Market – October 18th, 2023

Nifty may test 19775 | Buy from lower | Foreign issues imp.

Stop-loss Key for the period

Mars with Venus leads the day, well supported by Saturn, Rahu and Ketu. Although Mars is combust, but impact of foreign cues will be key to the market not only for today, but possibly in coming days also. In the house of (India’s horoscope) foreign lands, Guru-Rahu Chandal yog is forming. Lord of foreign lands with the Jupiter is indicating obsession also for certain acts in geo-political environment.

Nifty may look for 19750 or so.

Geo-political situation now is critical. Countries must take steps with care; otherwise, big issues may be seen in coming time.

Nifty may show some trimming on upper levels. Crude may remain around 90-93 USD, whereas INR is holding its levels above 83 INR against USD. Bonds may be doing bit better. Metals may show some movements. Gold may show some upside.

Keep a watch on government acts. This may give some impact on the market. Watch automobile and related segments.

Watch banks and financial institutions, fashion, defence, housing related, infrastructure, watch FIIs, retails, FMCG, leather, textiles, paper, chemicals, power, automobile tyres, defence, aviation and defence related equipment manufacturer, insurance, sea related segments and many more may remain active.

Nifty may test 19775. Sell on upper levels and buying from lower levels possible.

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.