Nifty Prediction : Positive Opening | FIIs and Foreign cues with Local issues Imp
Daily Forecast – Share Market – May 8th, 2020
Positive Opening | FIIs and Foreign cues with Local issues Imp
Mars and Sun are leading the day with Ketu, Venus + Saturn. Influence of foreign cues and local movements can be seen during the day. FIIs and Foreign market behavior will also be affecting our market. Point is we are trading on the basis of US market, but are our market so strong as US has?
Still, Planetary position indicates that buying from lower levels or positive opening possible. Buy at defensive levels and sell on upper levels if required. Reason is Last working day of the week and weekend ahead.
Results, and deals related impact can be seen during this period. Companies and government may try to get some investment during this low period.
Sun indicates that authorities or local sentiments may try to hold the market and may give some positive moves.
Crude may remain positive, which may give indications for positivity for the movements (globally).
Only point of big concern is Unemployment position and impact of this COVID on lower middle and middle class. They are not getting any support from government or anyone, but may face financial crunch, unemployment, and other issues. Directly or indirectly rates of every commodity is increased for consumer. Taxes are increased + their fixed expenses in this reduced income or after losing of income will be tough for consumers. Theoretically, demand will boost and economy will be on the track, but demand before Covid was low and after COVID lockdown… ? Companies have started deducting salaries.
Internal situation of many companies was bad, now they got face saving of Lockdown etc. But this is not going to change internal situation of nation and companies. Nation needs strong economic policies to get proper boost.
Long term investors … be watchful. It will be better to earn less is better than the losing of big money. Be safe… inside the house and in the trade also.
Traders may enjoy the day due to movements, but it will be better to trade with stop loss of 100 points on both sides.
Paper, Pharmaceuticals, textiles, leather, consumer goods, and metals, automobile tyres, infrastructure and many more may be showing movements.
Indian Rupee may trade in between 75.30 to 76.30 per USD.
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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
Categories: Share Market