Daily Forecast – Share Market – May 21st, 2021

Foreign cues supportive | Nifty may show + 100 levels

Moon with Mars is leading, well supported by Saturn, Jupiter, Venus and Sun. Foreign cues may remain influential with positive conditions. This may give an opportunity to buy from lower levels, as mentioned in my previous day’s post. I again feel that market is time to time providing opportunities at lower levels. Nifty may again try to hold level of 15000 or so.

In other words, I can say that after profit booking, market is ready to regain previous levels. But remember, from Sunday, 23-05-2021 Saturn will start transiting retrograde. That means, today will be last day before this transit event. Next week may have some impact of Lunar eclipse, although impact may not be strong, because this event will be seen only in NE parts of India for few minutes.

Keep a watch on Sugar, Textiles, leather, Pharmaceuticals, healthcare, chemicals, power, communication, IT, cement, Infrastructure, metals, FMCG, automobile tyre, batteries, automobile ancillary, Petroleum based products. Indications for upward movement is seen for a while. I will prefer to see indications from Saturn (Rx) on Monday.

Coffee, Tea based, rubber, solvents, banks and many more segments may be showing better moves Keep a watch on banking areas results. I believe, banks have recovered NPAs, assets quality – possibly many banks have improved.

I believe that nifty may again regain 15000+ levels of Nifty during the day. Keep a watch at the time of closing.

Indian Currency

Indian Rupee may trade in between 72.80 to 73.60 per USD.

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