Daily Forecast – Share Market – June 10th, 2024
Nifty may plan for 23300 or 23400 | Profit bookings on upper levels Possible
Mars with Moon leads the day, well supported by Sun, Jupiter, Saturn, Mercury, and Ketu. Movement can be seen in entire horoscope. But lord of horoscope (leader of council of minister) Venus is combust (total). I agree that NDA government is formed at 19 Hrs 24 mins and 32 secs. when PM has officially took oath.
Indications for this formed government – interesting movements or point of concerns will be by political partners of government. Leg pulling is not the right word. But issues among partners may be possible.
Now, market may remain cautious for the distribution of portfolios, because in this new government, this will be important. Because no solo decision will be possible for alliances.
Trimming on upper positions possible. Keep a watch on foreign cues. But time to go with defence related industries for long. Banks and finance etc. may be doing better, but this week, possibly some weakness or profit bookings in banks and financial institutions. That is also possible on share market (impact). Bubble of election is now over; normal breathing and movements will be seen during the period.
I hope ups and downs are possible because of announcement of portfolios during the day or at opening of session. So, market will be influenced with news etc. We can not ignore foreign cues, which will be important during the week or so.
All the segments will be showing movements. Nifty may look for 23300. Sell on upper levels not surprising. Watch news from ministries etc (announcement of portfolios), because this may give impact on the market.
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
