Daily Forecast – Share Market – May 21st, 2020

Nifty may look for + 100 Points | Ups and downs not surprising

Mars with Sun holds the key for the day, well supported by Ketu, Rahu and Venus. Global cues and local indications are better for the day, only point of concern is combination of Rahu and Ketu. Local politics and regional impact of virus may become cause of concern. Or I can say that coming period will be tough for certain areas in the nation.

It’s a news driven market, not a concrete growth or business driven market. It is also clear that only few segments have worked in past lockdown period, so results or balance sheet of such segments may remain bit better, possibly cash-flow issues can be cause of concern, because globally cash-flow was badly (severely) affected. We can imagine when crude had faced big choke, which indicates global choke of economy.

It is a time when one of the political parties may think that during the crises of this Pandemic – they can regain their base. I feel that it’s a time to work concrete, Saturn will give Justice, which is transiting in own house.

Time is coming when certain areas may feel shortage of working force and certain areas may have work force, but lack of work. Which may also influence production even after the opening of real-estate work, industrial work, and others. This issue may develop due to political reasons but may give set back to production etc.

Balancing of manpower will be key for coming period.

Market may have positive indications from global cues but can be tough due to local reasons. I will prefer to deal on the basis of wait and watch. Even then some positive moves can be seen in Airlines, IT, communication, transport, logistics and automobile segment.

This can be a day for traders but with care. Chances for long term investors – based on the movements of segments and good companies only. Impact of FIIs is not good currently, so in coming period we may see some buying from FIIs (if we get bit lower levels).

Opportunities at lower levels in banking sectors will be better. Still, Nifty may try to look for another 100 points movements or so.

Indian Currency

Indian Rupee may trade in between 75.30 to 76.20 per USD.

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