Daily Forecast – Share Market – June 9th, 2021

Laziness possible | Sudden moves not surprising

Moon with Mars, Saturn and Rahu are holding the key for the day. Lord of share market is combust (AST/Dagdha), that means this lord is in the close area of Sun, unable to give its best, secondly this lord of share market is a fallen planet, normally this position does not support significations or better to say unable to support own areas and significations.

Global cues are important, with the results from local companies may give impact on the market, but real values – like unemployment, loss of income or minimized income of lower middle class/middle class who are unable to get any support from anyone but their EMIs and other issues are disturbing their normal purchases. Lower class of economy are getting support and food from government and in certain areas they are even better than lower middle class.

Global cues are not comfortable, I believe that market may again rotate around previous closing. For a rise, it needs some profit bookings on upper levels. Pressure on the emotions of traders can be seen, possibly after solar eclipse on 10-06-2021.

Crude is rising, which may directly hurt economy of a common man of India. Inflation can be a key factor to hurt sentiments of layman. Their earnings are deducted or loss of jobs, they want to give education to their children. Certainly, this may affect demand of many goods in the market, which may be realized after July or August of the year.

Keep a watch on Banks and look for opportunities at lower levels. I again feel that Nifty is preparing for 15850+ in coming period or may go for more despite of issue with the lord of share market and lord of banks. VIX is supporting the market.

Mid caps and small caps may remain active during the day.

Leather, textiles, IT, leaf based segments like Tea and many more, coffee, FMVG, Oil exploration and related segments, logistics, entertainment (based on cable or wi-fi), pharmacy, healthcare, pathology labs, chemicals, non-traditional areas, alcohol, spirit and sugar, oils (edible), and many more segments may remain active.

Remember Rahu can give sudden moves on either side.

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.