Further Bearishness !!!

Astro Technical Guide for Monday, 17th May, 2010 and general outlook for the week::
Astro Info:: Moon transits in Aardra ruled by Rahu. Persons born in Aslesha, Jyeshta and Revathi constellations and in Cancer and Scorpio zodiac signs are advised to be alert in their dealings.
Astro Technical Position for the week :: On the back of huge bail out package doled out by EU and short covering by bears, world markets heaved a sigh of relief and rallied smartly last Monday but could not quite hold on to the gains and gave up most of the weekly gains on Friday and ended with marginal bullishness for the week but markets appear distinctly weak on weekly basis. Following global cues, market is set to open weak and further weakness is possible as the week progresses and as already mentioned last week, May 20 and 21 are quite sensitive for the market and market might nosedive once again towards the weekend. Last week’s rise can be seen as a pullback for the earlier week’s fall. New Solar and Lunar months had commenced last week end and the first half is not promising . Since pullback appears to be over, further bearish trend can be expected to continue till the month end and Fall in May in Even years might once again prove correct. Traders are advised to remain short with revised stop loss on a daily basis. Technically, Nifty can be expected to find support between 4850 and 4900 and any further fall below 4850 level would trigger medium term weakness. Any rise can be utilized to liquidate long positions and create short positions.

Stop loss for Nifty fut . positional short is 5175(on close basis).

Technical Levels for the week :: Nifty is strong above 5105 with resistance around 5185, 5255 and weak below 5055 with supports around 4975, 4905 for the week.Based on present market movement, Nifty fut would be in bullish zone above 5155 and in bearish zone below 5120 during the week . WD Gann’s natural numbers which would act as natural support and resistance are :: 4796, 4866, 4936, 5006, 5077, 5149, 5221 during the week.
Sensitive / Trend change Timings for the day :: 9.30am; 11.50am; 2.00pm;

Intraday Trend for 17.05.10:: On the basis of planetary position and also global cues, Market is expected to open lower and may recover from 9.30am and again become subdued after 12.00pm and may become steady towards close of the day.
PSU stocks are expected to remain subdued in second half of the day.

Astro Technical Trading Strategy for the day :: Incase market opens sharply lower, over night short positions may be covered . After 12.00pm, 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 about 2.00pm., or be continued with strict trailing stop loss (Risky traders can try long positions between 9.30am and 11.30am if Nifty maintains above Open price)

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 5090 with resistance around 5121, 5146 and bearish below 5070 with supports around 5040, 5015 and 4960 for the day.


Based on present market position, Nifty fut would be in bearish zone as long iti is below 5115 for Monday.

Stop loss for Nifty positional trade (short) is 5175 on close basis.
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