Caution at higher levels … !!!

Astro Technical Guide for Monday, 28th June, 2010 and general outlook for the week::

Astro Info:: Moon transits in Uttarashadha ruled by Sun and Persons born in Aslesha, Jyeshta, Revathi constellations and in Aquarius and Gemini zodiac signs are advised to be alert in their dealings.

Astro Technical Position for the week :: Market ended flat amidst narrow range movements and ended at lower end for the week suggesting caution at higher levels and possible further weakness. Close below 5300 suggests exhaustion at higher levels and Nifty could not make a new high during the week. While quarterly results are likely to hold the key for the next month, global cues are also likely to dictate the trend for the immediate term and most of the global indices suggest weakness. Astrologically, turbulent times are ahead in July(second half) and hence extreme caution is suggested and risk reward ration appears unfavourable for pure long positions at this level. Close below 5270 for Nifty futures suggests weakness technically too.


Technical Levels for the week :: Nifty is strong above 5315 with resistance around 5400, 5470 and weak below 5265 with supports around 5180, 5105 for the week.
Based on present market movement, Nifty fut would be in bullish zone above 5335 and in bearish zone below 5310 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 ::11.50am; 1.05pm; 2.00pm;

Trend for 28.06.10: : (Second Half Weak )

Intraday Trend for 28.06.10:: On the basis of planetary position , Market is expected to open steady and generally remain better in First half and become weak after 11.50am and may mildly recover towards close of the day.
Power, Phrama stocks are expected to be subdued while Cement and Steel stocks may fare better.

Astro Technical Trading Strategy for the day :: After 12.00pm, If Nifty fut trades below Average Traded Price by atleast 5 points, short positions can be taken with a stop loss of 10 points above Average Price and such positions to be closed by 2.30pm or be continued with strict trailing stop loss.

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 5300 with resistance around 5335 and 5360 and bearish below 5275 with supports around 5240, 5210 for the day.

Based on present market position, Nifty fut would be in bearish zone below 5310 and in bullish zone above 5295 for Monday.

Stop loss for Nifty futures positional trade is 5270 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