Daily Forecast – Share Market – May 24th, 2022

Nifty looking shaky | Local cues are not so impressive | Wait n Watch

Sun, Saturn with Jupiter are leading the day, well supported by Ketu and Mars. Foreign cues may remain mixed, which may give impact on our market also. Inflation and pressure on GDP (India and through out the globe), may give indications for the recession (chances). Saturn is indicating for the punishment to almost all the nations.

Two years and on of COVID, Ukraine and Russia war, which gave impact on food and energy.

Today’s market may show some ups and downs, with opening close to the previous day’s closing. It’s a time to keep your money intact and allow the market to settle down for more than 100 points of Nifty from the closing levels of previous day (I mean if market settles above this mark).

Otherwise, market may show shaky movements. Higher manufacturing cost due to energy, logistics and other reasons, companies are not in a position to show financial gains during the past quarter(s). Mainly due to poor demand and higher manufacturing costs etc.

Job market is also poor, new opportunities are not good, reason is many companies are getting financial support from out of India, because of their financial weakness or some crises, they are neither in a position to go for good hiring and not in a position for expansion.

I believe market is not well supported with internal events and results by the companies. Secondly, global issues are again deceptive, other nations are also facing tough position.

Better will be for plastic industry, but may not be good for steel, coal, and others. Prices of Petroleum products (impact on excise cut) may give some advantage to the logistics segments, automobile tyres, automobile, transport (passenger), which may give impact on many areas like edible and others. E-commerce, fertilizers, communication, IT and many more will be doing little bit better. Sugar, alcohol, wines and related areas like spirit etc. will be showing their moves.

It will be better to keep a proper check on your funds. Protect and then avail opportunities as and when available. Allow the market to settle down at least above 100 points of Nifty, only then invest.

Indian Currency

Indian Rupee may trade in between 77.10 to 78.00 per USD.

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