Daily Forecast – Share Market – June 5th, 2023

Allow market to settle – then move | Nifty try for previous levels

Ketu, Rahu with Saturn are leading the day, well supported by Moon and Venus. Importantly, lord of foreign lands is in its Neech rashi and with the lord of Horoscope of India. Indicating great energy during the day. Ketu is also indicating great movements during the day.

I believe that market may show around +100 points of movements. Nifty may try to look for 18700 once again. Crude is rising once again and may look for 76 USD.

Currency is within the range of 82-83 against USD.

US market may be taking a sign of relief for the time being, because of debt ceiling issue is resolved for the period. China may again show some sign of concern related to health-related issues (possibly COVID or some other issues).

For the day, foreign cues may be supporting. Now, FIIs may show some concern. Liquidity is bit point of concern in our market. So, market may have some concerns. Our market may have to look for FIIs etc.

Even then for a while buy on dips (from 18500 of Nifty). Avoid chasing of Opening. Wait and see, it will be better to look for Opportunity if required for sell on upper levels.

Since, malefic planets (including Guru-Rahu chandal yog) are playing major role during the day, so sudden changes in the trend will not be a surprise for me. Deception at any time will be possible.

Many segments with small caps, midcaps and many more. Even then remember, wait and watch to settle down this market, do not chase any gap-up during the day.

Areas like alcohol, communication instruments, electronics and electricals, music instruments, entertainments, IT (mid-caps), spirit, sugar, textiles, leather, cotton, silk, pharmaceuticals, watch Banks, finance, batteries, non-traditional instruments, non-traditional segments and many more may remain active with paper and others.

Avoid Gap-up opening. Nifty may look for 18700, but wait to settle down the market then move.

Indian Currency

Indian Rupee may trade in between 82.00 to 83.00 per USD.

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