Daily Forecast – Share Market – May 6th, 2024

Nifty may look for 22550 | Buy ion dips | Enjoy election’s Utha Patak

Indian general election has moved in the penultimate day of third phase of this. Planetary positions are playing their role in the election. Interestingly, transit of Jupiter (lord of eighth house) has moved in the lagna of India’s horoscope. Which may give some interesting and unexpected turn after its results. I shall be watching this result carefully. This is according to the classics of Vedic Astrology. Time will test these classics of astrology.

Today, Mercury with Venus leads the day, Sun, Moon, Jupiter and Saturn. On date all the planets are in decent position, lord of share market is protecting own house of share market. So, this may protect the share market values.

I believe, market may show some positive opening. I hade mentioned in my previous day’s report that buy on dips was better. Today, market may show some positive gains at least at the earlier stage of market.

We celebrate job reports of US market in our share market but ignore our own markets job position and consumption position. This consumption is ultimately backbone of companies. US market is preparing for their elections of the year.

Buy on dips and enjoy the day for a while. I must say that after a month result of the election will be playing its role after June 4th.

Watch banks, financial institutions, power, automobile, IT, logistics, travelling, all surface of transportation, and many more segments like textiles, leather, paper, fertilizer, oil marketing companies, fashion, and many more may remain active.

Nifty may try of 22550 or so. Buy on dips for a while (media reports may support the market). Brokers may also play key role during the coming period. Because Jupiter will be combust from day after tomorrow early morning. Crude oil may remain around 80-85 USD.

Indian Currency

Indian Rupee may trade in between 82.80 to 83.60 per USD.

Please like my Facebook page @ https://www.facebook.com/AnoopAstroSutra.

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