Daily Forecast – Share Market – May 31st, 2024
On Nifty may move towards + 100 points | 22300 of Nifty Possible
Watch Banks and FIIs | Coming period Nifty may test 22100
Moon, Mercury, Sun and Jupiter are leading the day. Importantly, this Jupiter is on the edge of coming out of combustion on 02-06-2024, that means on 04-06-2024, we may say that on 04-06-2024, market may get some direction around lunch for the coming period.
Today with the anticipation of better results for ruling party on last session, market may move with the positive touch. Or we can say that today buying from lower levels possible.
Crude oil prices are again within the range of 80-84 USD, and INR may also show some recovery from previous levels. Few Giants of Index (Nifty) may be pulling up the levels of Nifty. There are few business houses, which may not be having any impact on their working style or business movements after results and formation of government, because they have to maintain proper balancing with the group. One or two groups may be facing some issues, if government will not be repeated.
India’s GDP data may be influencing the market on coming Monday. FIIs are not supporting or not interesting to bear the risk after the results of election.
Today’s planetary position indicates buying from lower levels. Today, we may see some negative impact on chip related companies. This may give impact on technologies, but other segments of IT may be doing better. Watch dairy, rubber, logistics, and related segments, travel and tourism, travel related segments, chemicals, automobile, power, reality, infrastructure, carobon black, insurance (impact on either side), petroleum on either side, and many more may remain active with Banks and financial institutions, please watch FIIs, which may give some direction for the coming period.
Nifty may look for 22550 but be prepared for 22300. Tricky period, because of planetary changes or movements.
Indian Currency
Indian Rupee may trade in between 82.70 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
