Astro Technical Guide for Monday, 23rd August, 2010 and general outlook for the week::
Astro Info:: Moon transits in Sravana ruled by Moon and Persons born in Punarvasu, Visakha and Poorvabhadra constellations and in Aquarius and Gemini Zodiac signs are advised to be alert in their dealings.
Astro Technical Position for the week :: Market closed with a gain of more than 1.50% for the week amidst highly volatile movements and has broken out of the range , thereby suggesting further bullishness. Current week, being the settlement week of F&O contracts, scrip specific movements are most likely. Technically, Nifty would become weak only if it closes below 5440.
However, astrologically medium term turbulent period has commenced with several geo cosmic events (involving slow moving planets) in the sky. Venus debilitation in Virgo; Mars aspect on Rahu / Pluto ; Saturn aspect on Natal 2nd house ; and Venus Mars conjunction in Raasi and Navamsa , Tsquare involving Pluto Jupiter and Saturn, Mercury Retrograde position are the major geocosmic events which are currently in operation. With Jupiter and Mercury, planets signifying Finance, Trade and Commerce, being in retrograde position, market may experience high volatility inclined towards bearishness. Thereafter, Mars transit in Libra also does not augur well for the market. Considering Astro and Technical position, nifty being in technically strong position may go upto 5550 / 5580 / 5650 before experiencing significant correction in the forthcoming period. According to W D Gann studies, top for the current swing which has commenced from 4786 level can happen around 23/8 or 30/8, which is to be very carefully watched. Also, according WD Gann studies, strong resistance is placed at 5545. Though Nifty has broken out of the range, it still continues to be in a narrow range, considering historical data and can move up further, technically. However, considering the present level of high index , upside may be limited and risk reward ratio for the long positions at the current level may not be favourable. Hence caution is advised at higher levels as market might experience heavy volatility and can turn nervous any time . Since turbulence over a period upto mid October is expected, high degree of cautions is advised. (particularly as the index is at high level)Technically, if Nifty fut closes below 5440., short positions can be taken and Stop loss for such short positions may be maintained at recorded high level by that time. Strong Resistance for Nifty is placed at 5545 / 5580 /5650.
Technical Levels for the week :: Nifty futures is strong above 5545 with resistance around 5595, 5670 and weak below 5500 with supports around 5445 and 5370 for the week.Based on present market movement, Nifty fut would be in bullish zone above 5485 and in bearish zone below 5430 during the week . WD Gann’s natural numbers which would act as natural support and resistance are :: 5366,5440,5514, 5588 and 5663 during the week.
Sensitive / Trend change Timings for the day ::10.15am;11.20am; 2.40pm;
Intraday Trend for 23.08.10: : (General Bullishness amidst Volatile Movements)Intraday Trend for 23.08.10:: On the basis of planetary position, Market is expected to open steady and remain subdued from 10.15 to 12.15pm and recover thereafter to again become subdued after 2.40pm. and may recover from 11.15am; Time from 12.15pm to Power, Pharma , Entertainment, FMCG stocks may fare better while Communication and Tech stocks may remain subdued.
Astro Technical Trading Strategy for the day :: After 12.30pm, if Nifty fut trades above Average Traded Price , long positions can be taken with a stop loss of 10 points below Average Price and such may be closed by 2.30pm.
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 face resistance around 5545 and 5565 and find support around 5500 and 5480 during the day.
Based on present market position, Nifty fut would be in bearish zone below 5512 and in bullish zone above 5525 for Monday.Stop loss for Nifty futures positional trade (long ) is 5440 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 Investing and Trading..
Dr B Amaranatha Sastry
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