Nifty Prediction : Nifty may look for 14800+ | Mid/Small caps looking better

Daily Forecast – Share Market – May 7th, 2021

Nifty may look for 14800+ | Mid/Small caps looking better

Moon is leading the day with support of Saturn, Sun, Venus, Rahu, Mars and Jupiter. Foreign cues with local cues/issues will be giving impact on the market. Activities in many planets can be seen during the day, it will be better to say that entire planets are active directly or indirectly.

This may give movements in the market. I agree that COVID cases are alarming according to the health infrastructure. Percentage of population wise, cases are not that much higher till now, but in case if this will go to 1% of total population of nation, in that condition, what will happen?

Global cues and local performances may be influencing today’s trade. I believe that market may look positive again for the day. Movements in almost all the segments can be seen. Possibly small caps and mid-caps may be looking much better than large caps. Time to look for small caps in IT and related field.

Global cues are decent, keep a watch on FIIs.

Time for two wheelers including non-auto two wheelers (bicycles) can be better. Time has come to improve local cycle manufacturer to improve and compete with foreign manufacturer and capitalize this covid affected period. Market is ready to buy high quality and priced bikes for their rides in coming period also. Because this CORONA has developed a new craze for Cycles in India. If quality will be better, certainly people may take cycles to their offices (percentage may be less but may improve)

Action from government related to COVID control and health infrastructure will be important. I believe that investment in health and education can give much faster growth to the nation. India.

Another point to watch, many stocks are very costly according to their price valuation (this reminds me 1992 pre-April era).

Movements in IT, logistics, e-commerce, entertainment (based on internet/DTH), Equipment related to such areas, communication instruments and communication (includes internet), transport (cargo) will be better. Sugar, textiles, leather, two-wheelers, banks, financial institution, health related areas including Pharmaceuticals, hospitals, laboratories, automobile tyre, paints, cements, infrastructure, and many more sectors may be doing better. Keep a watch on alcohol and non-traditional companies.

Keep a watch on small caps along with index.

Nifty may look for 14800 or so. Volatility is possible, but not necessary.

Indian Currency

Indian Rupee may trade in between 73.20 to 74.00 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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