Daily Forecast – Share Market – June 8th, 2021

Nifty may look 15800 | Book profit if required (within short period)

Mars, Moon with Rahu are leading the day, well supported by Jupiter, Sun and Saturn (Rx). Lord of the share market is retrograding back to Sun resulting Mercury moving in shadow of Sun from tomorrow (within 3 degrees and 20 degrees distance from Sun). Global cues will also be playing important role during the day (especially, when lord of the share market and bank is indicating weakness.

Crude is stable, but data from various nations not comfortable, because of COVID and Post covid reactions. On 10-06-2021, solar eclipse will be active, but in India, NE and Portblair side of areas may be watching this event, so effects can be seen in these areas, and directly or indirectly influencing nations, because eclipse is in ascendant of India’s horoscope.

COVID cases are coming under control rapidly, which is good for the coming period. Vaccination may improve after retrograde transit of Jupiter (20-06-2021).

Nifty may look for 15850 or so but may also show profit booking on the upper levels. I shall be prepared for Profit bookings or consolidations on upper levels. Coming period is giving indications for the watchful movements, because lord of the share market will be heading for total combustion around weekly expiry.

Keep a watch on FIIs, because their movements are certainly giving direction to the market. Still is giving opportunities at lower levels. Keep a watch on defence related companies (even weak companies may show better moves), IT, logistics, FMCG, chemicals, leather, textiles, agriculture produces, agriculture related segments, Pharmaceuticals, pathology laboratories, Petroleum (exploration and related segments), sugar, infrastructure, power, cement, paints and many more are looking for opportunities.

Trade with care, book profit as and when required within a day or two.

Indian Currency

Indian Rupee may trade in between 72.50 to 73.20 per USD.

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