FURTHER BEARISHNESS !!!

Astro Technical Guide for Monday, 19th April, 2010 and general outlook for the week::

Astro Info:: Moon transits in Mrigasira ruled by Mars . Persons born in Pushyami, Anuradha and Uttarabhadra constellations and in Cancer and Scorpio zodiac signs are advised to be alert in their dealings .

Astro Technical Position for the week :: Market fell about 2% last week after 9 weeks of rise. Market is also set to open lower on Monday morning following global cues and sharp fall in US markets on Friday following US regulator’s charges against a prominent investment banker. Finally, financial astrology proved its efficacy as period around 17th April was forecasted to coincide with significant bearishness. Technically, market became weak when it closed below 5300 and it will continue to be weak as long as it remains below 5300. During the current week, Mercury , planet of trade and communication, turns retrograde which might spread misinformation and create communication gaps / problems. FIIs continue to remain buyers in Cash segment but appear to be hedging their positions by selling in F&O segment. Considering Astro and Technical angles, market is expected to continue its bearish stance for some time to come .

Technical Levels for the week :: Nifty is strong above 5290 with resistance around 5380, 5450 and weak below 5235 with supports around 5150, 5080 for the week.
Based on present market movement, Nifty fut would be in bullish zone above 5325 and in bearish zone below 5290 during the week . WD Gann’s natural numbers which would act as natural support and resistance are :: 5077, 5149, 5221, 5293, 5366, 5440 during the week.

Sensitive / Trend change Timings for the day :: 9.55am; 12.30pm; 3.00pm;

Intraday Trend for 19.04.10:: On the basis of planetary position and also global cues, Market is expected to open lower and may remain generally steady to become weak from 1.00pm to 3.00pm . Below First hour low , market becomes further weak for the day.
PSU and Oil stocks are expected to be better while Communication, cement and steel stocks may remain subdued.

Astro Technical Trading Strategy for the day :: Incase market opens sharply lower, over night short positions , if any, may be covered . After 12.30pm, if Nifty futures trades below Average Traded Price, short positions can be created with a stop loss of about 10 points above Average Price and such positions may be closed by 3.00pm or end of the day. Generally, market has turned bearish and any rise may be utilized to liquidate long / create short positions and overnight long positions are against the general trend and need to be hedged.

Open level is important below which only short positions may be taken and vice versa. Stop loss is a must for intraday trading.

Technical Levels for the day:: Nifty Futures would be bullish above 5275 with resistance around 5310, 5335 and bearish below 5255 with supports around 5220, 5195 and 5165. for the day.

Based on present market position, Nifty fut would be in bullish zone above 5285 and in Bearish zone blow 5260 for Monday.

Stop loss for Nifty positional trade (short) is 5325.

IF resistance levels are achieved in the forenoon session, buying may be avoided at higher levels and risky traders can consider short positon for a pull back to Bullish trigger level. IF Support levels are achieved in the forenoon session, selling may be avoided at lower levels and risky traders can consider buying for a pull back upto Bearish trigger level / other support levels.

Note ::Intraday trend given above is relative and based purely on the basis of planetary positions and aspects and needs to be understood and applied depending on the market movement. Technical portion and astrological portion given above should be considered together and applied for taking proper trading decisions.

Disclaimer :: Intraday trading is risky and Astro guidance is to be used as an additional tool in addition to technicals and adapted depending on intraday movements. Creator only knows what is going to happen and astrologer can only indicate what is likely to happen . Whether Stock market is suitable or not is determined based on Individual natal chart and that would be helpful to determine one’s favourable / unfavourable period .

Trade only with stop loss..

Happy Trading..
Dr B Amaranatha Sastry