Nifty Prediction : Opportunities at lower levels | Nifty may breach 15700
Daily Forecast – Share Market – June 17th, 2021
Opportunities at lower levels | Nifty may breach 15700
Moon is leading the day, well supported by Mars, Saturn (Rx), Mercury (Rx), Venus, Jupiter and Rahu. Directly or indirectly, all the planets are active. That means, entire horoscope is active for the day. Two planets are retrograde, Jupiter is losing its velocity for us, because from 20-06-2021, will start retrograding. Indications are clear that market may further show some profit bookings and may provide opportunities at lower levels. Reason is VIX is strong at the moment.
Geo-political situations are indicating some changes in coming period (indications only). Neighbouring nations may be giving some indications, services need some extra alert (which they are).
Today is weekly expiry, chances are that market may breach 15700. It will be better to trade with caution. Look for Opportunities at attractive or better levels.
Currency is also looking for some weakness. Crude is rising, which may influence further on logistics/transportation cost further, finally increasing prices of commodities (which are already including covid charges – by this way or that way).
Areas which had worked properly or may work properly under lockdown are – IT, DTH/OTT/Binge based entertainment, communication, banks, Pharmaceuticals, pathology laboratories, chemicals, power, and logistics, online marketing services, FMCG (this year, past year – they had cleared blocked materials, increased prices without any clarifications), fertilizer etc. and many more like wise companies.
Areas affected are capital investments, capital goods, electronics and electricals, automobile in urban areas, formal cloths etc.
Foreign cues are not supportive or we are not supportive to the foreign trades? Countries like US and others may show better growth of recovery in coming period, but we must see our growth also.
Interesting areas may be IT, communication, Tea, coffee, dairy products, FMCG and many more.
I believe that market may show movements on either side during the day, so it will be better to protect your funds and trade wisely. Investments are possible in coming days.
Nifty looking for Profit bookings. Mid-caps are better returns.
Indian Rupee may trade in between 73.20 to 74.10 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