Nifty Prediction : Opening positive possible | Consolidation/Profit booking possible

Daily Forecast – Share Market – June 7th, 2021

Opening positive possible | Consolidation/Profit booking possible

Moon with Rahu leads the day, well supported by Saturn (Rx), Jupiter, Mars and Venus. Activities related to lockdown is bit encouraging, in many areas, relaxation is provided by the government, which may give impact on the selling of various products in the open market, because in many areas, mass is not willing to go for online buying for many products.

It is an indication that COVID cases are coming under control in comparison to the figure of 4 lacs.

Crude is rising with strong base, which may give impact on oil exploration companies. That means company like Reliance may enjoy some advantage.

Defence, neighbouring areas, political alliances are the areas to keep a watch. That means companies related to defence can be interesting. Otherwise, political alliances and other political moves within the parties can be seen during the period. Which may not give much impact on the market.

Keep a watch on the moves of FIIs and foreign cues. Indications can be within range of 15500 to 15850 of Nifty. Banks, I will not prefer to go for long at the levels, better to wait and watch. IT will be doing better, that includes service industries based on IT like jobs, marriage, education etc. Keep a watch.

Keep a watch on NPAs of banks and their details, before going for long.

IT, leaf-based like Tea, coffee, rubber, electrical and electronics, alcohol, spirit, and related segment, defence related, power, infrastructure and related segments, automobile tyre, automobile, healthcare, agriculture, textiles, insurance and insurance related web-based companies, pharmaceuticals, LCV/HCV vehicles manufacturer, agriculture-based automobile etc. may be looking interesting.

Keep a watch on chemicals, solvents and many more areas can be seen active.

Consolidation or Profit bookings possible.  Nifty may be withing range of 15850 to 15435 in coming days.

 Indian Currency

Indian Rupee may trade in between 72.60 to 73.40 per USD.

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

Categories: Share Market

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