Daily Forecast – Share Market – May 10th, 2023

Nifty may look for 18300+| Trimming possible on upper

Nifty may try to regain previous day’s high with profit booking on upper levels.

Ketu, Rahu and Venus with Jupiter are holding the key for the day. Importantly, Mars will be moving in Cancer sign, which will be indicating that Neech sign for Mars. Cues from foreign market will be important in coming period. Casual traders must take proper guard. Profit booking in time will be key for them. Nifty may try for 18500 in coming period (this is my estimation), but astrology may give idea, but figures are just an indication for the day or coming period. I believe, currently market because of local reasons may show some gain on the day, with trimming also.

Nifty may look for 18350 or so but trimming on upper levels also possible. Tomorrow will be weekly expiry, that means before going long, please be watchful.

Foreign cues may not be comfortable but buying from lower also possible. But trimming is expected on upper levels.

Those who have invested in good equities might have made profits and still some chances are possible. IT at decent rates may be better for long (mid term long), if any recession comes, can be sold out.

Automobile for the coming time will be bit better.

I feel that all the segments may remain active, with electronics, electricals, non-traditional, alcohol, sugar, communication, communication instruments, power, infrastructure, chemicals, fashion, FMCG, Jewellery, garments may remain interesting, metals, watch with care gold, and crude oil may show a movement for 80 USD. INR may be under pressure.

Period for the trade is better, but because of change in Mars position – possibly sudden changes may be seen in the second half of the day or may be tomorrow.

Indian Currency

Indian Rupee may trade in between 81.90 to 82.60 per USD.

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