Nifty Prediction : Mixed day Possible | Look for Opportunities at lower levels

Daily Forecast – Share Market – May 11th, 2022

Mixed day Possible | Look for Opportunities at lower levels

Venus, Saturn, Jupiter are leading the day, well supported by Mars, Moon and Sun. Global cues may

not be decent, even then local market may have impact of local issues/cues. Impact of foreign cues may be not good, planetary position wise, lord of share market has started transiting retrograde (Ulti chaal), normally after this market trends start for reversal movement. But geo-political, COVID related issues in China, and inflation issues (globally) are the key factor for the pressure in the market for such a long. After Russia and Ukraine disturbance, inflation and energy prices have disturbed the economical movements in the market.

Cost of manufacturing is going up. INR is under pressure, so automatically inflation or cost of goods/edible will be on the higher side. Causing weakening demands, income of common man is affected.

Mixed day possible for the trading purpose. Time is coming to pick good equities at lower rates. Importantly crude is little bit on the lower side, INR against USD is above 77, which is not good for the inflation,

I will suggest to pick good equities at the lower rates or economical prices in coming period or today, which ever suits. Market is still waiting for the confidence in the market and for the clear directions.

Areas like automobile, IT, communication, Gas, petroleum, power, electronics, leather, textiles, defence, sugar, electricals, automobile tyres, automobile ancillaries, banks FMCG, fashion goods, infrastructure, cement, insurance, research related companies, renewable energy, energy and keep a watch on pharmacy, chemicals, banks and financial institutions.

Trade for looking opportunities in coming period. Buying from lower levels not surprising.

Indian Currency

Indian Rupee may trade in between 76.60 to 77.50 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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