Daily Forecast – Share Market – May 3rd, 2021

Nifty may show Volatility | Global cues important

Moon with Sun is leading the day, well supported by Mars, Rahu, Jupiter and Venus. Lord of share market has moved with Rahu, indicating some confusions or ups and downs due to political and other reasons will not surprising. Rahu will indicate “KHELA HOBE” type of movements during the day. That means market may play and volatility will not be surprising or may show pressure on levels.

Impact of COVID possible

Pandemic is rising, as expected, after elections and results, state governments (some) may take strong steps to break the chain, in some states three days in a week lockdown is introduced, similarly other states are introducing lockdown for a week or fortnight etc., this may hamper income or sales of non-essential goods, may hurt collection of GST etc. in coming period (which can be one government’s point of concern).

Time for IT, Logistics, banks and financial institutions, e-commerce, Pharmacy, chemicals, gas manufacturing, communication (including internet services), infrastructure, power, electronics and defence related segments etc. may be doing better.

Keep a watch on results. Strict impact of lockdowns or partial lockdown may be seen in coming period.

Volatility or selling on upper levels will not surprising.

Indian Currency

Indian Rupee may trade in between 74.50 to 75.30 per USD.

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