Daily Forecast – Share Market – June 8th, 2022

Nifty may look for 16525 or so | Watch news and then trade

Sun with Saturn is leading the day, well supported by Moon, Mars, Jupiter and Venus. Importantly, Saturn is transiting retrograde, and Lord of share market is started to picking up its own speed slowly and gradually.

I believe that buying from lower levels possible and Nifty may try to look for another 100 points on positive side. That means chances for better day and Nifty may look for 16525 or so.

Global indications may remain better, but GDP of globe and India is under pressure. Crude is rising high. Corona in Maharashtra and other areas may be increasing. Indications are due to retrograde Saturn.

It will be better to buy on dip and sell on rise (as and when required) due to foreign cues and global issues of Inflation, GDP and other issues related to unemployment and issues among various nations.

I feel that Inflation is achieving on its peak levels, possibly due to poor buying in the market and steps for inflation by RBI might give impact on the inflation. Slowly and gradually. Possibly inflation may start flattening its upper levels. GDP is affected due to energy prices and high inflation.

Keep a watch on News from RBI and other sources.

Areas like automobile, automobile ancillaries, metals, power, infrastructure, banks and financial institution, dairy, IT, communication, metals, energy, petroleum exploration and refinery, with renewable energy, solar or non-traditional energy, sugar, with alcohol, insurance, pathological laboratories, FMCG and readymade garments etc. and many more.

Importance of News from RBI will be important. Avail advantage on the news.

Nifty may look for 16525 or so. Wait for the news and keep patience. News from Local will be key to the business.

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