Daily Forecast – Share Market – March 18th, 2024

Nifty may test 21900 and look for 22150 | Stoploss 21900 better

Rahu with Mercury leads the day, well supported by Moon, Mars, Saturn and Venus. Indications are clear that volatility in the market or suspicion in moves are possible, but Lord of share market is trying to protect the levels.

I believe Nifty may try to roam around 21900 to 22150. I must say that stoploss at 21900 will be better. Global cues may be mixed. Certain markets are doing fairly well, whereas economy indications are not as supportive as market indicates. That means for our market retailers are investing or trading on higher side.

Retailers are trying to make better returns, but they should be watchful, reason is US election year. Indian market is sure of repetition of the same government during the general elections.

Crude oil may look for 85-86 USD or so, INR may maintain below 83 per USD.

Areas like sugar (due to diversification news), crude, EV related, Non-traditional segments, power, banks (watch and look for opportunities), IT, aviation, defence, space, oil marketing companies, dairy, rubber, automobile tyres, and paints etc. may remain active. Many more segments may remain active, because indirectly entire horoscope is active. Avail IT, communication, space at better rates along with logistics, and related segments.

Nifty may test 21900, and wait for 22150 levels. Means Nifty may remain within 21900 to 22150. Stoploss at 21900 will be better.

Indian Currency

Indian Rupee may trade in between 82.50 to 83.10 per USD.

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