Daily Forecast – Share Market – June 2nd, 2022

Nifty may feel some pressure | Global cues important

Sun with Saturn is leading the day, well supported by Rahu, Ketu, Mars, Moon and Jupiter. Lord of share market is slowing down its speed, because from tomorrow at 13:30 Hrs (IST), it means that today, lord of share market may not be much supportive along with the non-supportive foreign market.

Crude may help the market, but Rahu and Ketu are ready to give Volatility or sudden changes in the market.

Consolidation is possible. I believe consolidation is correct word, before the change of direction of transit of the lord of share market, means Nifty may again try to threat 16400.

Importantly, we can not ignore consumption theory of our market, which is missing. I feel that production theory is directly based on consumption. Neither top levels of government nor any other agency is trying to focus – why demand in the market is dipping. Reason is falling income, lack of job appropriate job opportunities as it was in 2014, 2015, 2016, is missing – especially after 2019 or from 2019. Covid has provided some coverup at that time, but real issue has now started giving its impact in the market.

We may be happy, after comparing from 2020 (proper lockdown period) but if we compare on earlier years, but – is this situation indicates proper track for the relief of a layman, when inflation is also rising.

Anyways, share market is based on different theory.

Market may show 16400 of Nifty but may give opportunities from lower levels for the coming period.

Areas like leather, textiles, IT, communication, banks, automobile, e-commerce, banks and financial institutions, agriculture, EVs are on rise, Automobile tyres, petroleum marketing companies, chemicals, and many more may show movements. Look for opportunities for the coming period.

Weekly closing may be bit under pressure.

Nifty may look for 16400. Look for opportunities at lower levels.

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.