Daily Forecast – Share Market – June 22nd, 2021

Nifty looking for upper levels | Keep a watch on Mid-caps etc.

Moon is leading the day with support of Rahu, Saturn (Rx) and Jupiter (Rx). Mercury will start transiting direct from the late evening; therefore, lord of the share market and banks will be at the slowest speed for us. Mood of the market seems positive and may look for 15850 or so. Only point of concern will be support from the lord of share market and banks, which may force market to check its pace or time to time light pressure. But Rahu may be playing different game.

Local cues and results for the companies may be guiding the direction for the day. I agree that crude and currency is not supportive for a layman, apart from loss of jobs or losing portion of income and other side impacts of pandemic impact (like ill health or aftereffects of COVID current wave).

Market is trying to achieve new levels of Nifty in coming period. Target seems to be 16000 in coming time.

COVID vaccines are another encouraging point for the market. Reason – Nation is trying to achieve landmark vaccinations in a day, which may help to public in a big way.

Crude and currency are not supportive for the market. Inflation is increasing but VIX is around 15 or so, which may give an advantage to bulls in the market.

Almost all the areas may remain active, even then I may look for opportunities in good banks at lower and attractive rates for long term. IT, communication, non-traditional, leather, Paper, textiles, oil exploration, export related, defence, Pharmacy, dairy, leaf-based, chemical, pesticides, laboratories, and many more areas like wine, alcohol, with sugar etc. may be doing well. So many other planets are also positive. Keep a watch on mid-caps and small caps.

Indian Currency

Indian Rupee may trade in between 73.70 to 74.50 per USD.

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