Daily Forecast – Share Market – May 3rd, 2018

Nifty Trying to hold position | Pressure on upper levels possible

Venus, Moon and Mercury are leading the day with support of Jupiter, Sun and Saturn. Two major planets are retrograde, and Mars has moved in the house of Judiciary, which may give some decisions, influencing nation and market too.

I feel that since Mercury is protecting own house of share market, so will not allow for a big dip so easily. But due to planetary changes and movements, possibility of pressure or profit bookings on upper levels is possible. Nifty may try to be around previous levels with ups and downs movements.

Crude and engineering or paper with textiles may show some ups and downs. IT, communication and travels/tours with logistics may be under influence of Judiciary or some authorities or some other reasons, so it will be better to trade with care in the areas.

Foreign issues and foreign related trades may show some action in coming days. FMCG, banks, financial institutions, sea-based segments, automobile and infrastructure etc. with renewable energy may be doing better. Leaf based, dairy based and drug-based segments may be looking to do better.

Indian Currency

Indian Rupee may trade in between 66.30 to 67.10 per USD.

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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.