Daily Forecast – Share Market – May 30th, 2024
Nifty may test 22500 in coming period | Avoid long for a while
Moon, Sun with Mercury are leading the day, well supported by Jupiter and Rahu. Importantly lagna lord of India’s Horoscope is close to total combust, which means local issues may remain deceptive or may not be as supportive as should have been. Global cues may again not comfortable.
Monthly expiry impact may be seen during the day.
Pressure on upper levels also possible. Market is bit nervous because of last phase of election and heading for the result tally on coming Tuesday. Planets on 04-06-2024 is also not comfortable. So, Volatility in market is possible. Not very deep dip, but casual approach and profit bookings on upper levels.
Market shows careful movements for the special event in next week. It will be bett4er to trade with the wind and book profits as and when required. We may see some buying from lower levels. It will be better to protect the funds as and when required.
For the traders who take big risk, certainly, this is the time for such traders to take risk. Today, trimming is possible. US market is again responding to their upcoming election in the year end.
Areas like IT, communication, entertainment, banks and financial institutions, infrastructure, reality, power, logistics, chemicals, alcohol, insurance, sea related, petroleum exploration, batteries, tyres, leaf based, coffee, and many more may give the direction to the market.
Do not plan for long for a while. Nifty may test 22500 in coming time. Crude oil is maintaining 82-85 USD levels.
Indian Currency
Indian Rupee may trade in between 83.00 to 83.70 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
