Daily Forecast – Share Market – June 10th, 2022

Global cues may remain tough | Nifty may breach 16200

Mars with Sun leads the day, well supported by Jupiter, Saturn, Mercury and Venus. Inflation (global) and GDP (Global including India) are cause of concern. Are we heading for recession? Global cues are not good for the market and may hit the market. Nifty may dip around 100 or more than this level, that means may breach 16200 levels of Nifty.

Rising interest rates global possible, which may go to hit the market (global). Crude is still on the upper side and again in the rising side. Coal and other source of energy may be hitting the market and cost of production and movements. Global inflation is critical.

COVID cases in Shanghai and Hongkong is tough. Indicating slowing down the market process.

Possibly, global agencies may increase rate of interest in coming month/time – as planets are indicating.

It will be better to protect your funds. Avoid aggressive trading in the market. Neither aggressive selling nor aggressive buying. Indications are for sell on rise.

Activities may be based on foreign market, news, announcements at least in the second half of the market. Banks may also face some issues during the day. No aggressive planning for the period.

Pull back may give another chance of sell on upper levels. It will be better to allow the market to settle down the market and then plan for the day.

Segments wise – alcohol, defence, exports and imports, metals, automobile, infrastructure, reality related, IT, communication, power, batteries, electronics chips related, and many more with web related segments, companies linked to Artificial intelligence may be lucrative in coming period, otherwise many more companies may be showing movements on either side.

Nifty may trade with in 16200 to 16400. Currency is another culprit for our market.

Indian Currency

Indian Rupee may trade in between 77.30 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.