Daily Forecast – Share Market – May 21st, 2024

Nifty within range of 22400 to 22600 | Stoploss at 22200 for long

Rahu -Ketu may give turbulence 

Sun with Mercury leads the day, well supported by Moon, Jupiter, Rahu and Ketu. Global cues may be giving indications, but Indian market is cautious, because of general election and we are heading for last two rounds election. Estimations from the experts for the elections may give its impact on the market. Similarly, traders may also like to be careful with the long purpose. Reason will for the changes in planetary position, like important planet Jupiter will rise on 02-06-2024.

Watch the results and deals etc. in the market. Keep a watch on FIIs.

Defence related segments may give some gains for the investment purpose. Sentiment of the market may remain cautious for other purposes. Although this cautiously positive approach is possible. Reason is Business channels may give indications for the stable government formation etc.

I must suggest using your own way of working and look for neutral opinion with medias opinion. Be Judicious.

Stoploss at 22200 will be good for long. Trading may remain within the range of 22400 to 22600.

Areas like automobile, infrastructure, transportation (all surfaces), logistics, travels and tours, water related segments may be good for the coming years, IT, communication, space, dairy, rubber, automobile tyres, solvents, chemicals, carbon black, keep a watch on reality, and many more may remain active in midcaps and small caps.

Nifty may remain within the range of 22400 to 22600. Stoploss at 22200 will be better. Use your own judicious calculations apart from the media’s opinion for the elections related impact on the market. Crude oil may maintain its levels around 82-85 USD. Gold may show positive movements.

Indian Currency

Indian Rupee may trade in between 82.80 to 83.50 per USD.

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