Nifty Prediction : Foreign cues may cause Volatility | Nifty 16000 may feel pressure

Daily Forecast – Share Market – May 12th, 2022

Foreign cues may cause Volatility | Nifty 16000 may feel pressure

Sun with Jupiter is leading the day, well supported by Moon, Mars, Saturn and Mercury. Lord of share market and banks has come under shadow of Sun, which reduces strength of the lord. Indications are clear that market may face some pressure, because of foreign cues etc. Inflation, crude oil prices and pressure on INR are the key factor to impact the economy and demand in the market, resulting pressure on market.

Geo-political situation is again disturbing food situation (globally), after energy crises. Hence, global markets are facing pressure. Unemployment and uncertainty of earnings are key factors for the pressure in the market (affecting results of various companies).

Volatility is possible on weekly expiry. I shall be looking for the opportunities in coming period.

Areas like automobile, infrastructure, automobile ancillary, energy – petroleum/crude, coal and solar + non-traditional sources, electronics, textiles, sugar and based products, keep a watch on IT, communication, entertainment, banks may show some volatility or ups and downs, solvents, chemicals, metals, engineering, alcohol and based segments, insurance, and many more may show some activities on either side.

Pressure on 16000 of Nifty possible. Volatility possible during the day. Look for opportunities in good companies.

Indian Currency

Indian Rupee may trade in between 76.70 to 77.60 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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