Daily Forecast – Share Market – March 12th, 2024

Nifty may test certain levels | Buy on dips | Nifty may protect levels

Mars with Mercury leads the day, well supported by Venus, Saturn, Jupiter, Rahu and Moon. Remember, global cues may not be supportive, possibly mixed day for foreign markets, which may give its impact on our market.

Still, our market indicates buy on dips. Point of concern can be banks and financial institutions, that means financial Nifty on its closing day may show volatility.

Buy on dips will be better, avoid fresh buying for a while. Let the market show its positive intent. For nifty 22200 will be suitable for stop-loss. Nifty may try to test some levels on lower side. But upside may look for 22500 or so. But nifty may test lower side levels.

Global cues indicates that AI may show some pressure, which may give shock to IT. Watch banks because of some important transactions etc. watch the news related to various companies may be giving impact on the market. Local market is waiting for direction, but lord of the share market is trying to hold the levels.

Majority of the segments may remain active on either side or may show small movements or with volatility.

Nifty may try to test 22200 in coming time, but may plan for 22700 in the coming period. Share market lord is in its Neech rashi and giving support to own house. That means astrologically chances of maintaining the levels of market despite of dips or buying at the levels.

Indian Currency

Indian Rupee may trade in between 82.60 to 83.20 per USD.

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