Nifty Prediction : Nifty may look for 16200 or so | Trade with care

Daily Forecast – Share Market – May 9th, 2022

Nifty may look for 16200 or so | Trade with care

Saturn, Jupiter are leading the day, well supported by Venus, Moon, Mars, Sun and Mercury. Interestingly, lord of share market is close to retrograde position, hence, speed of Mercury is slowing down, which may influence pace of the market in coming two days. I agree that Jupiter is giving aspect on the house of share market and result driven market movements. Even then, pressure of inflation, INR value in comparison to USD.

Lord of the share market is moving at the slow speed for us, and tomorrow will start transiting retrograde. Geo-political and trade point may influence market and keep under pressure, which may press nifty to look for 16200 or so, Nifty may breach 16300 one important level.

Trade with care.

Areas like sugar, textiles, leather, chemicals, insurance, crude, petroleum, research based segments, laboratories (healthcare), dairy products, IT, communication, aviation, travel and tourism, space and many more, defence, power, automobile and engineering with many more segments may remain active on either side, keep a watch on banks (based on results etc.)

Market may show negative emotions at least at the earlier session.

Indian Currency

Indian Rupee may trade in between 76.50 to 77.30 per USD.

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

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