Daily Forecast – Share Market – June 06th, 2024

Banks – watch | Nifty may move upside | Fear of sinking continued (emotions)

Moon leads the day, well supported by Sun, Jupiter, Mercury and Ketu. Emotions of the day is strong, although Moon is combust and because of Amavasya, malefic side of the Moon may force/derive the market towards upside. Direction of the market is clear for now. This is also fact that the strength of the leader of the nation is clipped. Indications are that government may have to compromise on policy making.

Nifty may show movements for another 150 points during the day. Emotional movements.

Movements in few selected groups may be showing another jump, because of return of NDA government, although, they may be bit watchful, but movements may be checked by partners of the government.

Watch PSUs, which may show some reversal moves.

PM indicates positive movements after formation of government, but political bargains will be key for the coming period. Indications will be seen after June 30th, 2024, when Saturn will start transiting retrograde. Still I am worried regarding transit of Jupiter in lagna of India’s horoscope. I wish good health for each and everyone including partnership (political).

Moon and Ketu may try to propel the market on upside, unless any emotional drama develops in coming period.

Wait for the movements of FIIs.

Crude may still maintain lower trend and may remain within the range of 75-80 USD. In India, inflation is high for edibles etc.

Watch for IT, communication, logistics, precocious metals may show movements towards upside. Possibly, direction may be seen as settled, pressure on banks.

Market may flow according to the political news and information. Nifty may once again try towards 23000 in coming time.

Nifty may show positive movement on the day, but one cannot ignore fear of sinking. That means strict stoploss will be better and trade only with proper information.

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.