Astro Technical Guide for Monday, 21st June, 2010 and general outlook for the week::
Astro Info:: Moon transits in Chitta ruled by Mars and Persons born in Aswini, Makha and Moola constellations and in Scorpio and Pisces zodiac signs are advised to be alert in their dealings.
Astro Technical Position for the week :: Market continued its northward journey without any correction and gained more than 2.5% during the last week. Nifty crossed major resistances and closed above the key resistance level of 5250 signifying further bullishness. Our market are quite strong fundamentally and global cues only can dampen the sentiment. It is to be seen whether Indices would create a new high in the weeks to come or not ? However, astrologically, while further immediate uptrend is possible, extreme caution is to be exercised after Mid July as another significant correction is possible. There does not seem to be no immediate threat and technically 5175 can be kept as stop loss for positional longs. June 22 is a significant trend change date to be closely watched. Astrologically, Bank and Metal stocks appear to be weak for the early part of the week. Technically 5300 and 5400 are key resistance levels for Nifty.
Technical Levels for the week :: Nifty is strong above 5280 with resistance around 5365, 5435 and weak below 5230 with supports around 5145, 5070 for the week.Based on present market movement, Nifty fut would be in bullish zone above 5235 and in bearish zone below 5200 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 ::11.30am; 1.00pm; 2.30pm;
Trend for 21.06.10: : (Mid Session subdued )
Intraday Trend for 21.06.10:: On the basis of planetary position , Market is expected to open better and generally remain subdued / weak from 11.30am and to recover towards close of the day.
PSU and Oil stocks are expected to be better.
Astro Technical Trading Strategy for the day :: After 11.30am, 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 2.00pm. (Intraday short positions is against the short term trend of the market).
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 5265 with resistance around 5300 and 5325 and bearish below 5245 with supports around 5215, 5185 for the day.
Based on present market position, Nifty fut would be in bearish zone below 5280 and in bullish zone above 5265 for Monday.
Stop loss for Nifty positional trade (long ) is 5175 /5200 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
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