Daily Forecast – Share Market – May 4th, 2023

Nifty may look for 18200 | Lower side 18000 of Nifty | Wave possible

Shadgrahi yog, in the house of foreign lands, workers, hospital etc. Importantly, Mars, Rahu, Ketu and Venus with Jupiter are controlling the day. Only karma is not active. Foreign cues may further influencing the market. Possibly foreign cues may not be so good to support the market.

Tomorrow, many nations will be observing lunar eclipse. News from US and other EU nations may not be encouraging. Still, fear of negative trend for economy (global) is alarming crude oil and restructuring of companies internal setups. Causing layoff of employees.

Impact of past few years – Karma of past years – Karmfal data (Shani) is justifying the karmafal.

Weekly expiry.

Still, Crude may look for 70 USD, sharp fall. Bank crises in foreign nations may further be seen in coming period. Which may give pressure on the global market. Reason is – in almost all the countries finance may get affected because of US, EU and China banking issues. Crypto may be another reason for banking issues.

Nifty may try to test 18050. On the upper side may play for 18250. Confusion – because of Rahu and Ketu. Tomorrow – strong wave will not be surprising. Because of another impact of shadgrahi yog.

IT is still pressurising the market. Not properly managed the advantage of 2020 to 2021. Karmfal data is bound to give fal of the same. Or we can say that IT stocks may be in the category of oversold. Pressure is compulsory. Be prepared to buy at turnup level.

Defence is good with non-traditional segments, buy banks on dips, chemicals, petroleum marketing companies, petroleum products, automobile tyre, alcohol, sugar and its by-products etc., pharmaceuticals, many more. Currency is holding levels. Two-wheeler segments with fashion, hospitals and many more.

Watch global news. Nifty may look for 18250 and buy on dips better for the day.

Indian Currency

Indian Rupee may trade in between 81.50 to 82.30 per USD.

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