Daily Forecast – Share Market – November 16th, 2023

Nifty may look for 19775 or so | Watch at 19600

Mars, Jupiter and Ketu are leading the day, well supported by Moon, Saturn and Venus. Foreign cues are not bad, for share market purposes. This does not mean that economy is under control. Inflation according to their data, is under control.

US and China both are now trying to understand the situation and importantly US is indicating that IT has given some better indications in 10 days of trading sessions. FIIs may move in coming period. Banks still not supporting as market needs.

Today, Nifty may show some sell on rise, but may try to look for 19775 and it will be better to watch around 19625 or so.

Watch few financial institutions, especially involved in digital landing etc.

Ketu indicates some rise in the market. Keep a watch on China’s real estate. Watch midcaps and small caps. SMEs etc.

IT, defence, defence related aerospace, drone, radar, electronic defence related gadgets, communication related segments, textiles (watch for the better levels), metals, sea related crude oil related market companies, petroleum gas, insurance and many more like containers, leather, paper, power, automobile etc. may be doing better or showing movements.

Nifty may try for another +100 points or so and stoploss at -50 points will be better.

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.