Nifty Prediction : Ups and downs possible | Profit booking in coming period | Solar eclipse ahead
Daily Forecast – Share Market – June 19th, 2020
Ups and downs possible | Profit booking in coming period | Solar eclipse ahead
Sun, Jupiter, Mars and Moon are holding the key with Ketu. Four planets are retrograde. Sudden activities in market or global events or anywhere will not be surprising. If any one is calculating retrograde position of Rahu and Ketu, then this will be considered as their regular transit pattern, if Rahu and Ketu transits direct during the same period then it is considerable.
On Sunday, there will be total solar eclipse, so I will not prefer to carry position (for traders) or like to be watchful. This may influence banks and financial institutions, and chances of face-off may increase.
Jobless or unemployment is another point of concern (lower middle class – white coloured). Government is concerned for labours, because they are in the not covered by media or not important for political or TRP purpose but may be much important for giving a consumption flow to quality and good products. Labours can give again a news for Parle-G type of product but for white goods industry, automobile, tyres, FMCG, and many more important industries.
Our concern issue is TRP based support (for anyone). This may give short term policies, but for going in depth, we need appropriate person in the ministry of Finance.
I believe that in coming period there are chances of profit bookings from upper levels or a downfall from upper levels. So, for short term traders can look for opportunities on the basis of buy on dip. Long term can look for good companies, which can survive under tuff position like Lockdown like IT, communication, FMCG, e-commerce and likewise many more.
Automobile is backbone and indicator for growth of economy. Which is not in a comfortable position. This will be proved by the annual performance of 2019-20. Lockdown was for only last 10 days of financial year.
Currency may show some betterment than the previous day but still above levels. Government is trying to earn revenues through Petroleum products but remember don’t kill golden goose. Middle class has loss of income, instead of supporting them (service class), government is trying to extract through Petroleum. Please check, this may give impact on other products also.
This may harm demand in coming period. Planets are also supporting fall in demand due to common man.
Enjoy the day and move safely for next working week. Sudden fall may be possible in coming days.
Indian Rupee may trade in between 75.80 to 76.70 per USD.
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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.
Categories: Daily Panchang