Daily Forecast – Share Market – May 3rd, 2023

Nifty may try to hold 18100 and May look for 18175 | Watch Geo-news

Venus, Ketu with Rahu are leading the day, well supported by Moon, Mars and Jupiter. Foreign cues may play important role during the day. News related to foreign banks and other issues are still alarming for Global system/market. Lord of lagna of India’s horoscope is now with the lord of foreign lands, so our market may further be influenced with foreign market.

Pressure possible. Global aviation news important. IT is still not attractive. Look for the bottom levels.

These aspects are affecting crude oil prices also. INR is maintaining its levels. Silver and gold may try to hold levels, but pressure will not be surprising. Despite of long runup of past week and yesterday, planetary position is indicating that profit booking is possible in coming period (including today). Retrograde Mercury has crossed Sun, so possibly market may try to touch the levels of 22-04-2023 in coming period (chances).

Asian market may not be much affecting our market, but US and EU markets will be important during the day. Nifty may try to hold levels. But trimming on upper levels possible and recovery from lower levels will not be surprising.

Keep a watch on many segments like previous working day.

Nifty may try to hold the levels of 18150 but be watchful for the coming period.

Indian Currency

Indian Rupee may trade in between 81.50 to 82.20 per USD.

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