Nifty Prediction : Nifty looking for direction | Trade with cautious moves

Daily Forecast – Share Market – May 5th, 2021

Nifty looking for direction | Trade with cautious moves

Sun, Moon and Mars are leading the day, well supported by Saturn, Venus with Rahu. Venus has moved in its own sign and ascendant of horoscope. I believe that expectation of government from their planning may be high, but it will be bit tricky to meet satisfaction levels, possibly due to conjunction of Venus and Rahu.

Active cases of COVID and now new areas of COVID influenced areas may be new cause of concern, because of lack of proper facilities (including medical equipment – including medical support team)

Foreign cues may play their role during the day. Market may try to hold its levels. Impact of statement of government officials in foreign lands may be seen in the market in coming period. Globally, inflation has increased due to pumping of money by respective countries.

Crude is rising, which may affect our cost of energy and transportation and many products. Keep a watch.

COVID is maintaining its levels, areas where total lockdown was imposed, have started showing improvement in their position. But this threat for lockdown is alarming and restricting movements of the market.

Keep a watch on news and be watchful with ‘Fake News – AFVAH”. If, anytime. market tries to look for 14250 will not be surprising for me; but at the same time volatility and rise in the levels of previous closing can be seen.

Areas of Textiles, leather, chemicals, lubricants, IT, Pharmaceuticals, Power, infrastructure, communication, DTH linked, keep a watch on banks also. News from government agency/organization will be important for the coming period.

Banks and affiliated areas may be showing movements on either side, keep a strict watch. Impact of Rahu on banks will be clear in coming period also. But for coming months, it will be better to pick banks at better and economical rates (if available).

Trade with watchful eyes, keep an eye on News from Government or related organizations.

Indian Currency

Indian Rupee may trade in between 73.50 to 74.30 per USD.

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

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