Daily Forecast – Share Market – May 10th, 2024

Nifty may remain within 21900 to 22100 | Sell on rise better

Venus is leading the day, well supported by Sun, Moon, Mars, Jupiter, Saturn, Mercury and Ketu. Last working day of the week. Cues from foreign markets may be decent, but local political and cues may be much more important for the day.

Election is heading for the 4th phase, which may indicate towards the formation of government. Today is weekend. Market may show some gloomy moves, but it will be better to trade “JARA SAMBHAL KAR”.

I always believe in “Expect unexpected”, which is always suitable because of planetary position. Transit of Jupiter in India’s Horoscope may give the same “EXPECT UNEXPECT” in elections.

Possibly, market may show some positive moves. I believe in sell on rise as mentioned in yesterday’s policy.

Gold may show some rise on date – 1. Due to global reasons and 2. Akshay Tritiya.

Crude oil may remain within the range of 82-85 USD again. Movements in many segments may be seen. Only Ketu is indicating that market may show positive movements for the day. Possibly some short covering swing may be seen either today or in coming days. But be watchful at least till the next month’s first week.

Since lord of share market has moved in Aries sign, so, protection to own house of share market will not be there. Hence, sell on rise purely because of local political and other situations and expected impact on one of the big business house’s companies due to some political reasons.

Nifty may remain within the range of 21900 to 22100 or so. Be careful and avoid traps of recovery by big bulls. INR is losing its value against USD.

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.