Daily Forecast – Share Market – May 26th, 2024
Nifty may remain within 22900 to 23050 | Cautiously Positive
Sun, Moon with Mercury are leading the day, well supported Venus and Jupiter. Importantly, Jupiter is combust, which will be coming out of combustion on 02-06-2024. During the period of combustion of Jupiter, Nifty and market has shown upward movements, from 21900 of Nifty on 21-05-2024 to 23000 of Nifty. This week will be important, because we are eight session away from the results of election for Parliament.
This market will also react on exit polls of 01=06-2024 on 02-06-2024.
Today, Nifty may be calm and may look for 23000. I shall be prepared to book profits as and when required. Or avail advantage.
Market is waiting for trigger point for the direction. Stability of government will be key for trigger.
Planetary position indicates that crude oil may maintain its levels around 80-84 USD. Market may remain cautious for the period and may trade with positive cautiousness. Nifty may show some trimming till 22900 or upside for 23000 or so.
Banks, few important groups may be showing or protecting index levels, financial institutions, shipping or sea related or sea ports related segments, power, infrastructure, automobile, IT, communication, watch defence related, chemical, FMCG, fashion, entertainment and many more may remain active.
Nifty may remain positively cautious during the day. Nifty may remain within the range of 22900 to 23050. INR may further improve its levels against USD.
Indian Currency
Indian Rupee may trade in between 82.80 to 83.50 per USD.
** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
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** Before investing or trading, check the technical aspects as well, which is a reading based on planetary movements
