Daily Forecast – Share Market – May 7th, 2018

Nifty may look for 10680 levels | Looking to regain levels

Moon is leading with Venus, supported by Sun, Saturn, Jupiter and Mercury. Mercury is in last navmansha of debilitation, so will try to protect own house, but may be bit weak. Even though other planets like Moon, Venus and Sun will be supporting market during the day.

I feel that market may look for upper levels and open with decent mood. Nifty may look for further upper (previously tried levels). I will like to suggest stop loss at (-)100 on Nifty for lower side and (+)200 on upper side from the previous working day levels.

IT, communication, travels and tours with media, government moves, political moves may be cause of impact on the market. Banks, financial institutions, education, leaf-based segments, Pharmaceuticals (with stop-loss), Textiles, automobile, automobile tyres, batteries, metals and related segments may be showing some movements.

Nifty may look for 70 points on upper side. Trade with care. Crude and petroleum are key.

Indian Currency

Indian Rupee may trade in between 66.20 to 67.00 per USD.

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