Nifty Prediction : Nifty may look for 14700 or so | Keep a watch on Foreign cues

Daily Forecast – Share Market – May 6th, 2021

Nifty may look for 14700 or so | Keep a watch on Foreign cues

Moon, Sun with Rahu leads the day, well supported by Saturn, Venus and Mars. Global cues along with local moves by agencies/organization will be giving support to the market, Venus is lagna lord and in own house, but with Rahu. Importantly, COVID cases are alarmingly rising in various areas. Impact of Kumbh impact in Uttarakhand is already visible, other areas may also be reflecting accordingly.

Banks may be showing movements, it will be better to keep a watch on bank index and selected banks (keep a watch on news related to banks and related areas of PSUs).

Nifty may be showing upward movements, possibly may look for 14700 or so. I had already mentioned in previous week that market may look for 15000 in coming period. Keep a watch on various companies.

It will be better for investors to observe movements of IT companies, possibly may get good companies at better prices. Otherwise, areas for communication, logistics, DTH or related services, Optic fibre, chemical, leaf-based, dairy and many more like solvents, rubber etc. may be doing better.

Pharmaceuticals, healthcare, laboratories, electronic equipment, metal, defence, electrical and related healthcare equipment may be doing better.

Movements in many more segments like textiles, sugar, leather, non-traditional segments, alcohol and related areas.

Enjoy the moves, trade with positive mood. Nifty may look for 14700 or so.

Indian Currency

Indian Rupee may trade in between 73.70 to 74.60 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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