Daily Forecast – Share Market – June 9th, 2022

Profit bookings possible | Volatility (ups and downs) | Nifty may breach 16300

Mars with Sun is leading the day, well supported by Moon, Jupiter, Saturn (Retrograde), Mercury and Venus. Impact of foreign issues will be strong, including rising of Crude oil prices. Secondly, US had faced negative information related to Intel and another company.

Russia is not in a position to fulfil demand of crude oil. They may cut down their production only. Secondly, they are honouring previous contracts only.

China and US market have started increasing their fuel consumption. Gas Prices are rising. Currency is another weak point for the price hike in petroleum.

It is high time to work with care and fast on alternate energy, otherwise this year may set new rates for the crude oil prices.

Global cues for the market may not be suitable. It will better to be prepared for pressure on the market. Automobile market may show some better movements (companies involved in multinational manufacturing). Nifty may breach 16300 Profit bookings possible.

Impact of retrograde Saturn can be seen in leather, textiles and other segments also.

Automobile, Power, automobile ancillaries, companies manufacturing Hydrogen and Nitrogen gases, tyres (input cost related to 70% consumption of petroleum products including nylon cords and synthetic rubber etc.) IT, communication, entertainment and related segments with logistics, FMCG, Keep watch on banks and financial institutions etc.

Gases (chemical), and many more chemicals etc. may be doing better in coming days. Take precautions for COVID or other medical issues.

Profit bookings possible and Nifty may breach 16300 or 16275.

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.