Nifty Prediction : Wait and watch to set direction | Pressure or suddenness possible
Daily Forecast – Share Market – June 10th, 2021
Wait and watch to set direction | Pressure or suddenness possible
Moon, Mars are leading the day with Saturn and Rahu. Lord of share market is close to total combustion (AST/Dagdh), which is not a decent position for the lord of share market, secondly, today in various part of the earth, solar eclipse will be seen and giving its impact also. Global cues may be playing important role in coming days, because for few days, lord of the share market will be total combust, especially tomorrow.
I feel that own emotions of the market may again show pressure, global cues for support and direction, keep a watch on FIIs. Movement of Monsoon is encouraging for agriculture purpose. Which may give positivity to the traders. COVID cases are giving indications for check on Corona victims during the day. That means, local markets may start opening in various places, encouraging news. This may give direction to Nifty to look for 15700+, but this does not means that situation is under control for bulls.
Market may give opportunities at lower levels in coming period, lord of the share market will be totally disturbed on 11-06-2021. Crude is maintaining own levels. Keep a watch on government data related to inflation or others. Data of Unemployment with inflation will be important for the economy of nation.
I believe that let the market settle down and then move for trading or buying. Buying on dips will be seen (at lower bases). Sudden changes like previous working day will not be surprising.
Textiles, defence, space, IT, communication, wi fi based entertainment services, leaf, coffee, chemicals, pharmaceuticals, health care, laboratories (pathologies), power, alcohol, healthcare equipment manufacturing, non-traditional areas, renewable energy and many more may remain active with logistics, automobile tyre with Paper etc. may remain active during the day. Indirectly all the areas are active in either of direction.
Foreign cues may be important after 11:45 Hrs (IST) – during the day.
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.
Categories: Share Market