Daily Forecast – Share Market – June 15th, 2022

Volatility possible | Nifty may try to hold levels

Mars with Sun is leading the day, well supported by Ketu, Venus, Mercury, Jupiter and Retrograde Jupiter. Importantly, Sun will be changing its sign and moving in Gemini sign. Global news is important for the coming period. Possibly, news from US may give some important news.

China is still facing some issues related health etc. Inflation may be further affecting the world. Japanese, Hongkong and other countries are also facing issues.

Planetary positions are indicating that market may try to show buying from lowers but due to foreign cues market may have some strong pressure. Foreign issues are tough. Retail investors may be now watchful in coming period, which may hurt the market movements. Because till now, despite of selling from FIIs, local retail investors had managed the levels of Nifty and Sensex.

I am afraid of recession in the coming period. I agree that previous day, we have seen some pull backs, and tried to maintain the base line. I am bit suspicious that market may show some shaky move on penultimate day of weekly expiry.

Crude is in the range of 120 – 123, INR is also losing its base. Hence, situation for the market is indicating bit tough.

Areas like automobile, automobile tyres, Engineering related, communication, IT, power, textiles and leather with banks, communication instruments, cotton, silk and electronic products, chemicals, rubber and dairy products etc. may remain in action on either side.

Banks may show some resistances. But remember now lord of banks and share market will be moving in its own sign within next fortnight.

Nifty may try to hold the previous days levels. That means Volatility with buying from lower and chances of selling on upper levels.

Indian Currency

Indian Rupee may trade in between 77.30 to 78.20 per USD.

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