Nifty Prediction : Weakness & buying from lower possible | Nifty may look for 16650

Daily Forecast – Share Market – June 14th, 2022

Weakness & buying from lower possible | Nifty may look for 16650

Sun, Mars with Mercury are leading the day, well supported by Jupiter, Saturn and Venus. Importantly, Saturn is transiting retrograde, but lord of share market is looking to have some strength. With some volatility, market may show some buying from lower levels, but pressure of foreign cues may pressurise.

It means that market is not gaining strength. Currency is again started losing its level. Crude is forming its base (I feel), global indications are not comfortable for the economy. Virtual currency is again showing pressure on its levels.

Market after 2009 May, has shown a great run, but possibly bit less run-in comparison to the global market. So, it deserves for a fall from upper levels. This is also a fact that market has not grown with own support. Time to time different type of stimulus supports to the global market from past two and half years. We can treat such stimulus as some medical support system. But for how long such support can be provided to the market/business circlet

Ultimately, slowly and gradually stimulus support has to be withdrawn from the global market. Which will again unearth weakness of the market after COVID, Russia-Ukraine war, crude/energy crises/food crises etc.

What about unemployment? Appeasement policies throughout the globe.

Keep a watch on global news and cues, local issues are not much supportive. Even then market may show some buying from lower levels.

Areas like Automobile, power, energy, banks, financial institutions, chemicals, IT, e-commerce related to food and others, companies based on News etc. insurance, dairy, defence and many more may show movements on either sides – mainly show some loss of confidence.

Trade with care. Protect your funds and avoid rash trading.

Indian Currency

Indian Rupee may trade in between 77.40 to 78.30 per USD.

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

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