Daily Forecast – Share Market – May 11th, 2020

Positive movements | Nifty may look for 9400

Sun with Mars is controlling the day, well supported by Venus and Ketu. Importantly, lord of karma, religion and Judiciary has started transiting retrograde, now at the slowest speed for us because is on the curve. Foreign cues are important but at the same time decisions from Cabinet will be more important. Indicating some positive moves in the market is possible.

Local reasons are – beginning of movements in industrial sectors like automobile tyres, automobile, and related segments, which indicates movements on road is started – means demand of goods from past 50 days needs some supplies from manufacturer.

Global cues may also be supportive, so we may see some movements in the market. We should not forget Unemployment levels not only in India but globally also. Still, some workforce is back.

Second point of consideration is deduction in income of middle class and lower middle class (who are employed), indicating that non-essential products may face some drop after a month or so. There are companies who had enjoyed working from home (virtual) but still want to take advantage of Lockdown/COVID and deducting salaries of staff members (may be on perks), which had affected take-home of employees. Chances of increments are doomed or announced increments are in suspicion.

What about our market strength in comparison to US etc.? This point is to be considered before going for long.

Insurance, automobile related segments, infrastructure, road construction and related segments may be better in coming period.

Pharmaceuticals, communication instruments, and many more segments may be showing some movements including metals etc.

Wait from the news from Government or agencies in coming period.

Indian Currency

Indian Rupee may trade in between 75.00 to 76.00 per USD.

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