Daily Forecast – Share Market – February 16th, 2024

Gap up opening possible | Nifty may try to hold above 22000

Sun with Mars leads the day, well supported by Moon, Rahu, Mercury and Venus. Again, emotions of the market seem better, according to the planetary and foreign cues etc. Crude oil also nearing 83-85 USD range. According to the planetary movements and previous day’s closing or better to say recovery, market may show some gap up opening. It will be better to wait and watch.

Sell on upper levels can be possible, although emotions of the market are better.

Nifty may look for 22100 or so. This is an indication for forming a level of 22000 of Nifty (as it was in 21000).

Watch FII’s, they may give some thing for the market. Their movement will be key within coming period. Politically, market feels secured, because opposition parties before elections are now on sideline (only WB and Southern part of nation is different at present).

Movements in many segments can be seen during the day. Automobile, and related segments, watch banking and financial institutions, power, infrastructure, and related segments like cement and other, chemicals, IT related segments, defence, foreign trades and many more with non-traditional segments may remain active and guide the direction for the market, please do not ignore FMCG.

Nifty may try to hold the levels above 22000. Sell on upper levels possible.

Indian Currency

Indian Rupee may trade in between 82.60 to 83.30 per USD.

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