Daily Forecast – Share Market – April 6th, 2021

Trade with strict stop-loss | Nifty may look for 14750

Moon with Mercury and Mars is leading the day, well supported by Saturn, Jupiter has moved in Aquarius sign, which is blessing house of finance, banks, cabinet and health related issues along with common man. I feel that government may resolve some long pending issues within current 2-3 months time. This may also give some impact on health issues in coming period. recovery can be seen, but precautions are essential.

Crude and currency are under control from previous days’ level.

Global cues are better than previous working day. Local cues (only point of concern is COVID) are better. As mentioned in previous day, that buying from lower levels, means may give advantage today for traders. Long investors can pick good companies at their desired rates or close to that.

But it will be better to trade with strict stop loss of (-250 points from previous day’s lowest point ie. 14460), before going for long. I believe that share market lord will try to hold its levels, but other issues like health and others may create disturbances.

Keep a watch on banks and financial institutions – especially FIIs.

IT, communication, logistics, automobile, Bicycle, space, defence, electronics and electricals may be showing movements with petroleum, insurance, pharmaceuticals, leather, textiles, health-care, laboratories, chemicals and keep a watch on Judiciary decisions along with announcements fromg Government or their organizations in coming days.

Nifty may look for 14750 or so.

Indian Currency

Indian Rupee may trade in between 73.00 to 73.70 per USD.

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