Daily Forecast – Share Market – May 3rd, 2024

Nifty looks positive | Buy on dips

Nifty may plan for 23000 in coming weeks

Mercury leads the day from its Neech rashi, well supported by Sun, Moon, Jupiter, Saturn, Venus, Rahu and Ketu. As mentioned in previous day’s post that buy on dips will be better, now market is preparing for Next level, possibly after consolidation, and Nifty may look for 23000, in coming period, possibly before June 4th, 2024.

Opening may be decent, with some volatility (chances). Possibly Nifty may look for 22750 or so. Global cues may remain supportive. Today is last day before weekend. Again, entire horoscope is active.

Look forward for banks and financial institutions, space, aviation, IT (company wise), logistics, transport all the surfaces, power, automobile, automobile tyres, bakery and related segments may show some dips, chemicals, petroleum marketing companies, stock specific activities will be important, keep watch and trade/buy accordingly.

Crude oil may again remain around 80-85 USD. Which may give direct impact on Petroleum based segment like paints, automobile tyre, solvents, synthetic rubber, alcohol, sugar, textiles, leather, paper, and many more segments may remain active. Keep a watch on results of different companies.

Nifty may look for 22750. Buy on dips will be better.

Indian Currency

Indian Rupee may trade in between 83.00 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.