Daily Forecast – Share Market – May 14th, 2024

Nifty may test 22000 and look for 22200 |Sell on rise

Volatility chances increasing

Sun with Saturn leads the day, well supported by Moon, Jupiter (combust), Mercury, Ketu and Venus. Transit of Jupiter in lagna of horoscope of India. Election is cause of concern for the nervousness or careful approach in the market. Still 21 days to go for the results and for Opinion polls 17 days to go (just for idea’s sake which may be tricky because of medias approach). Global cues may also show some volatility in our market. FIIs are also reacting towards elections of India.

Market may play some tricky moves. Casual traders must trade with care. This may give an opportunity to sell on rise. VIX (volatility index of India) is rising – that means volatility chances in the market may again increase. Be prepared for volatility. Confusing news from various resources related to fourth phase of election and preparation for fifth phase.

I must say that market may look for 22200 of Nifty levels and stop loss on upper levels will be better – that means sell on rise, and on lower side nifty may look for 21950 or again test 22000.

Movements in many segments may be seen because of corporate news or other news. Watch automobile, reality, infrastructure, power, textiles, leather, engineering, finance, IT, communication, entertainment, oil exploration and marketing, dairy, logistics, space, financial institutions related news, with bank, FMCG, fashion and many more with chemicals and alcohols etc.

Nifty may look for 22200 and test 22000. Volatility chances are increasing. Crude is maintaining its levels around 82-85 USD.

Indian Currency

Indian Rupee may trade in between 83.00 to 83.80 per USD.

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