Daily Forecast – Share Market – May 25th, 2024
Nifty waiting for direction | Nifty may try to hold 22900 | Stoploss important
Sun with Mercury leads the day, well supported by Moon, Jupiter, Saturn and Venus. Importantly today, lord of lagna of India’s Horoscope is defeated in planetary war with Jupiter lord of eighth house (ups and downs). Secondly, on 04-06-2024 lord of lagna will be totally combust. Panchgrahi yog will be seen in lagna of horoscope of India. Something interesting will be seen during the day of 04-06-2024.
This may give impact on the movement of Nifty. Sell on upper levels also possible. I had mentioned in my previous post possibly in last month that Nifty will try to touch 23000 before 04-06-2024. I can remember Result Day elections, when UPA2 came. Poll opinion was against the win of UPA, but UPA 2 was repeated. Market swing towards upside started after great recession. Till date market is enjoying that movement. Remember poll opinions or other experts may be wrong, so go with your own approach till 04-06-2024. Direction of the market will be decided after this day.
US is also in the year of election, so figures can be accordingly.
Time of sell on upper levels is on the corner. Enjoy the records and be prepared for booking the profits as and when required, for decent dip. Regarding global indications, previous day was not supported by foreign cues, but local momentum because of few giants Nifty / Sensex touched new levels. Nifty touched close to 23000. Globally market has turbulence. US after a run, booked profits because of their own reasons.
Watch defence related product manufacturing companies, power, infrastructure, reality, communication instruments, silk or cotton, textiles, leather, FMCG, fashion, makeup, music instruments, gold related, petroleum marketing companies (enjoying comfortable rates of crude and selling prices on upper side), chemicals and many more in other segments.
Nifty may show trimming, but emotions till 04-06-2024 may have mixed feel but bit confidence is also seen. Nifty may try to remain above 22900. But stoploss important. Crude oil may again remain within the range of 80-83 USD. INR is showing strength in comparison to few days back. But real values will be seen after 04-06-2024.
Indian Currency
Indian Rupee may trade in between 83.00 to 83.70 per USD.
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** Before investing or trading, check the technical aspects as well, which is a reading based on planetary movements
