Daily Forecast – Share Market – May 2nd, 2024

Nifty may look for 22750 | Buy on dips 

Keep a watch on Volatility Index number

Mercury leads the day, well supported by Sun, Moon, Mars, Jupiter, Saturn, Venus and Ketu. Indications are clear that entire horoscope is active and all the planets are directly active. Indications for the movements for entire segments, which may force for upper levels during the coming period. Foreign cues may also remain supportive along with local political reasons. Jupiter has moved in the lagna of horoscope. Profit loss related suddenness will be effective during the one year. This may also influence local political partnerships.

Government agencies may be announcing some surprising decisions. Which may give impact on the market in coming period. Even then, I feel that Market may look for another 150 points for Nifty on the upper side of previous close. That means buying from lower levels may be seen.

Common man is investing in MFs, SIPs which is influencing the market positively. So, despite of Political Utha-Patak, this market may have better chances.

Watch banking sectors, because of official news. This may give impact on the market. Mixed impact can be seen during the day.

Almost all the segments may be showing movements. Keep a watch on automobile, logistics, transport (all the surfaces), travels and tourism, luggage related segments, defence, metals, electrical and electronics, communication instruments, petroleum marketing companies, oil exploration may have some pressure, agriculture, insurance, shipping and related segments, chemicals, cotton and many more may remain active.

Crude oil may remain around 80-85 USD. Nifty may look for 22750. Mixed movements not surprising.

Indian Currency

Indian Rupee may trade in between 82.90 to 83.70 per USD.

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