TECHNICALLY OVERSOLD....BUT BEARISH !!!

Astro Technical Guide for Monday, 10th May, 2010 and general outlook for the week::
Astro Info:: Moon transits in Uttarabhadra ruled by Saturn . Persons born in Bharani, Pubba and Poorvashadha constellations and in Aries and Leo zodiac signs are advised to be alert in their dealings.
Astro Technical Position for the week :: As expected, Nifty nosedived and lost more than 4.50% last week by falling on all the Five days even without any technical pullback . All global markets turned jittery and sentiment of MAY(hem) seemed quite evident. During the week Mercury is turning to direct motion. New Solar and Lunar months would be commencing towards end of this week. 12th May is the possible trend change date during the week. Astrologically, general bearish trend is expected to continue though at a slower pace. Technically, pullback is to be expected but any pullback is to be utilized only to clear long positions and to create short positions. 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. Further short positions at lower rates are not suggested and only pullbacks should be used to create short positions.

20 and 21 May are going to further sensitive dates for the market this month. Long term investors can utilize this decline to buy quality scrips. Presently, most sectors are bearish and value buying based on each individual scrip may be considered.
Revised stop loss for Nifty fut . positional short is 5160(on close basis).

Technical Levels for the week :: Nifty is strong above 5045 with resistance around 5125, 5190 and weak below 4995 with supports around 4915, 4850 for the week.Based on present market movement, Nifty fut would be in bullish zone above 5135 and in bearish zone below 5085 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 :: 10.45am; 12.55pm;

Intraday Trend for 10.05.10:: On the basis of planetary position and also global cues, Market is expected to open better and after initial hiccups may recover from 10.40am to 1.00pm and again may become subdued with more pronounced weakness after 3.00pm.

PSU, Power and Cement / steel stocks are expected to be generally subdued.

Astro Technical Trading Strategy for the day :: Incase market opens sharply lower, over night short positions may be covered . After 10.45am, if Nifty futures trades above Open level and Average Traded Price, long positions can be created with a stop loss of about 10 points below Average / Open Price and such positions may be closed by about 1.00pm., (Please note that long positions are against main market trend). After 1.30pm, if Nifty futures trades below Average Traded Price by atleast 10 points, short positions can be taken with a stop loss of about 10 points above Average Price and such positions can be closed by end of the day.

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 5030 with resistance around 5060, 5085 and 5130 and bearish below 5010 with supports around 4980 and 4955 for the day.


Based on present market position, Nifty fut would be in bullish zone above 5020 and in Bearish zone blow 4990 for Monday.

Stop loss for Nifty positional trade (short) is 5160 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