Nifty Prediction : Nifty may look for 16000 | Global cues and results Imp.
Daily Forecast – Share Market – May 20th, 2022
Nifty may look for 16000 | Trade with stop-loss | Global cues and results Imp.
Sun with Jupiter is leading the day, well supported by Saturn, Mars and Mercury (combust and retrograde). This lord of share market is weak and in its retrograde movements, so, other planets may be playing important role during the day. Foreign cues will be important for the trading purpose.
Result oriented day, with the feeling of last working day of the week. New day for the new week after previous day’s shattering expiry, I feel that opening may remain better due to foreign cues. Our own situation is not much strong. Reason is inflation and uncertainty in the rates of energy, which is disturbing budget of companies and consumers/layman/common man.
Indications are that market may try to recover from lower levels and may show some better levels. Technically, Nifty has honoured its base in the category of 15750 or so. Nifty may try for 16150 in coming period. On next working day, Mercury will be crossing Sun and will be out of combustion position, so chances of better movements possible in the next week.
China is trying to show strength, after their own internal setbacks based on COVID.
Areas like HCV (Heavy commercial vehicles and LCVs) may remain decent, with cement, automobile tyre, metals, Logistics, power, infrastructure, batteries, insurance and many more areas are ready to show some better movements. It will be better to keep a close watch on FMCG, commodities, Palm oil, sugar, textiles, leather, exports and many more may remain active during the day.
Nifty may look for better movements, may look for 16000 or so. Trade with strict stop-loss.
Indian Rupee may trade in between 77.00 to 77.70 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