Daily Forecast – Share Market – June 1st, 2023

Watch Bank Nifty base | Nifty may remain within (+/-) 100 points | Wave

Rahu with Ketu is holding the key, well supported by Moon, Jupiter, Saturn and Venus during the day. Indications from Rahu and Ketu – wave is possible during the day. Hold at lower rates. Chances of upward movements possible. But this Rahu may give deceptive moves also.

Buying from lower rates possible. Keep a watch on FIIs etc. Global data for jobless and sink in the market may continue to give pressure on Crude oil, which may try to hold the levels of 70 USD but may further fall to 5% in coming period.

Time may come when globally debt Vs Liquidity of banks needs to keep a proper balance and system to mange such issues. Rash steps may further affect the global economy.

China may further face consumption slump, which may further affect the production of products. Hurting economical growth and may affect consumption of gas and crude oil.

Despite of recovery from lower levels of the market, I am not that much enthusiastic for the run of the market. Cash movements are possible. Nifty may look for 18625 or so. But Banks are still needs some patience to test the upper levels or may take some pause for a while.

I must suggest that if required then take a pause during the – as and when required.

Many segments may show movements, it will not be wise to define segments. Mark a stop loss for Nifty at (-) 100 points. But be prepared to test the 18400 in coming period.

Nifty may look for 18625 and needs a stop loss at (-) 100 points in Nifty.

Indian Currency

Indian Rupee may trade in between 82.20 to 83.10 per USD.

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