Daily Forecast – Share Market – May 30th, 2022

Planetary support | Crude imp. | Nifty may look for 100 points or so

Sun, Moon with Saturn are leading the day, well supported by Mars, Jupiter and Ketu. Two important planets Mars and Jupiter are involved in planetary war. Lord of foreign lands is defeated by Jupiter. I agree that impact of foreign cues will be important but keep a watch on crude oil also. This a also possible that Nifty may cross 16400 and if holds this or above this level, automatically, will give a chance to buy for better movements.

Lord of share market is preparing to slow down its speed. Stop-loss essential.

This is also possible that Nifty may look for 16550 or 16600. May give indications that this week may give better moves. Only point of concern will be crude oil prices. This may look for upper levels.

Oil and gas related companies may give some better movement for the day. Only point with PSU is that if company is doing well then dividends are supposed to be better than private sector, but equity stocks will be at low prices.

Automobile, automobile ancillary, agriculture, sugar, textiles, leather, cotton (keep a watch), communication instruments, IT, communication, entertainments, logistics, power, infrastructure, metals, cement, paints, automobile tyres (remember pressure of crude oil may give impact on either profit or pricing of tyres), Banks and financial institutions buy at lower and attractive levels for a month or so. Silk, edible and chemicals with solvents etc. may be doing well with rubber (natural), keep a watch on synthetic rubber and yarn.

Positive day possible. Nifty may look for another 100 point or so. Good luck.

Indian Currency

Indian Rupee may trade in between 77.20 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.