Daily Forecast – Share Market – March 20th, 2024

Buying at lower levels | Nifty may try to look for 21900

Rahu, Saturn with Mercury are leading the day, well supported by Moon, Mars and Venus. Lord of share market is now again with strength try to protect own house of share market. Chances of recovery from lower levels.

Nifty may try to hold 21800 and look for 21925

Banks are still not supportive. Whereas global cues for IT segment is quite better, but our companies have not updated their way of working, so not showing some pressure. Time is changing, companies must look for the updated way of working. New segments may come to the market (non-traditional, this may include AI or something different). Our IT companies must look for some new innovative ways so that next step can be achieved. Body shopping or job work based system is now very old, they must try for something different. R&D work, new methods to compete and match with the growth of other segments.

Banks may remain under pressure, so these two segments are not energising our market. The moment they will restart, market will run with great pace and Indian economy will show next level of achievements.

New areas like space, communication, logistics, aviation, defence, electronic segments like chips and others etc. must be over and above to our original bread and butter IT and related segments.

All the segments may remain active. Watch Banks and IT.

Nifty may trade within 21750 to 21950. Crude oil is rising and may remain within range of 86-90 USD. INR may show weakness against USD.

Indian Currency

Indian Rupee may trade in between 82.80 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.