Daily Forecast – Share Market – May 5th, 2023

Nifty may show buying from lower | Will nifty look for 18500 in this run-up?

Rahu, Ketu with Venus leads, well supported by Mars and Jupiter. Last day of the week. Not trade for currency. Crude may remain close to 70-75 USD. Nifty had maintained levels above 18250 of Nifty.

Importantly, foreign cues were not supportive, our market had not affected on the second day. Global scenario is not comfortable. Reason is their banks. Inflation is headache for everyone including India.

Lord of foreign lands is with the lord of India’s Horoscope. Now, our strengths of companies may give support to the market, whereas our own inner weakness can be seen in coming period. We are trading by avoiding many internal aspects of economy.

Nifty may test 18175 but may give opportunity to buy from lower. Now point is – will this market look for 18500? Banks are doing well, weakness is IT, aviation etc.

Keep a close watch on banks and financial institutions. Which may affect the Nifty levels. I hope for positive from lower levels.

Rahu may give wave like movements as had given previous working day. Watch two-wheeler automobile sector. FMCG, logistics, travels and tourism, fast-food, entertainment, chemicals, pharmaceutical, insurance, exchange related segments, watch levels of pathology laboratories, IT look for attractive levels in coming period and many more may give opportunities.

Nifty may show buy from lower. Will Nifty look for 18500 in coming period?

Indian Currency

Indian Rupee may trade in between 81.60 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.