Daily Forecast – Share Market – June 3rd, 2022

Nifty may look for 16775 | Better day | Is Nifty Preparing for 17000

Jupiter, Sun with Saturn are leading the day, well supported by Moon, Mars and Ketu. Lord of share market is ready to start transiting direct after 13:30 Hrs (IST). So, at the time of opening of the market lord of the share market will be slowest speed for us, and then start transiting direct. That means will be moving ahead for the own sign of banks and financial institutions. I feel that market is preparing for 17000 of Nifty.

On date due to foreign cues market may be showing some positive moves and may look for 16775 or so.

Crude oil is holding its level, but still fear of instability due to energy crises, and rising prices is clearly seen globally. This may further continue, unless alternate energy solution will hit the market properly.

Recovery or buying from lower levels possible. COVID cases in India are giving indications for rising levels, especially we may see some impact after 12-06-2022. But now, we have learned to live with this COVID.

Areas like petroleum, sea based or related segments, this includes Gemstones etc. also, banks and financial institutions at better rates, IT, communication, metals, sugar, leather, textiles, alcohol based segments, spirit, electronics and electrical, communication instruments, and communication with logistics etc. It will be better to keep a watch on Pharmaceuticals, healthcare, hospitals etc. with laboratories etc. may be doing better.

Nifty may look for 17750 or so. Enjoy the day.

Indian Currency

Indian Rupee may trade in between 77.00 to 77.90 per USD.

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