Daily Forecast – Share Market – October 23rd, 2023

Nifty may test 19500/475 | Sell on rise | Avoid sell on sharp dips (if any)

Mars, Rahu with Venus are leading the day, well supported by Moon and Ketu. Again, foreign cues will be important. Some unknown issues or sudden changes/movements may be possible during the day. Remember, illusion during the day – not a surprising issue. Remember, lord of share market is trying to come out of shadow of Sun or better to say from coming out of the position of total combustion. This lord may try to give bit relax emotions to the traders.

Nifty may try to breach 19475. Buying from lower levels possible. Tomorrow will be market holiday (consider this before closing of the market). Banks and financial institutions will be important for the day.

I feel, again market may show some pressure on upper levels. Crude may again remain within the range of 91-95 USD. Keep a watch on Bond yields, this may further show some strength in various country. Economic issues (Globally) – indications are not positive. Reason is first weakness after COVID, then Russia – Ukraine war (still on) and now Israel and Hamas issue (war).

Time to time – in my various posts, I clearly mentioned, “Saturn may do justice and give punishments/advantages, if situations will not improve, this include everyone.” Importantly, Rahu mean will be moving in Pices sign on 30-10-2023. Saturn will start transiting start transiting direct from 04-11-2023. Astrological movements are strong within this fortnight, including Lunar eclipse on 28-10-2023 (after night at 08:30 PM).

It will be better to wait for the opening which may be close to the previous closing. Sell on upper levels or better to say sell on rise. Avoid selling on Gap-downs.

Areas like banks, defence, IT, alcohol, spirit, acid, chemicals, look for opportunities in leather, textiles, sugar, agriculture with paper etc, power, infrastructure, automobile and non-traditional segments are the areas to watch with care and interest.

Sudden movements will be key for the day (avail the opportunity).

Nifty may test 19500/475. Sell on rise will be better.

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.