Short Term Bearishness sets in .. To accelerate further …

Astro Technical Guide for Monday, 30thrd August, 2010 and general outlook for the week::
Astro Info:: Moon transits in Aswini ruled by Ketu upto 10.30am and in Bharani ruled by Venus thereafter and Persons born in Mrigasira, Chitta and Dhanishta constellations and in Taurus and Virgo Zodiac signs are advised to be alert in their dealings.
Astro Technical Position for the week :: Market closed with a loss of more than 2% during the week, one of the biggest weekly losses in the last 3 months and has breached immediate support levels of 5490 and 5440 and faces another strong support in the region of 5360. Market has been moving sideways for several weeks and is in the process of becoming bearish for short / medium term. Nifty would become bullish only if it closes above 5500 / 5550.
As mentioned in this column last week, astrologically medium term turbulent period has commenced with several geo cosmic events (involving slow moving planets) in the sky. Mars aspect on Rahu / Pluto ; Saturn aspect on Natal 2nd house ; and 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 technically also losing strength may go down further if it breaches 5360. W D Gann studies have proved their as market has topped out on 23/8/10, as mentioned last week and also faced resistance in the region of 5545. Nifty continues to be in a narrow range and is all set to come out of the range when it breaches 5350. In view of the current astro technical position, any rise from current level may be utilized to create short positions / liquidate long positions with recent high as stop loss and downside would accelerate below 5360. Hence caution is advised at higher levels . Since turbulence over a period upto mid October is expected, high degree of cautions is advised. Technical Supports for Nifyt are 5360 / 5280 and 5225 and Resistances are at 5490 and 5550.
Technical Levels for the week :: Nifty futures is strong above 5435 with resistance around 5480, 5525, 5595 and weak below 5385 with supports around 5340, 5295 and 5225 for the week.Based on present market movement, Nifty fut would be in bullish zone above 5490 and in bearish zone below 5435 during the week . WD Gann’s natural numbers which would act as natural support and resistance are :: 5221, 5366,5440,5514, 5588 during the week.
Sensitive / Trend change Timings for the day ::10.30am;12.00pm; 3.10pm;
Intraday Trend for 30.08.10: : (Mid session Subdued)Intraday Trend for 30.08.10:: On the basis of planetary position, Market is expected to open steady/ better but become subdued from 10.30 to 12.00pm and may recover thereafter and experience volatile movements after 2.10pm.
PSU stocks are expected to be better while FMCG, Entertainment stocks may remain subdued.

Astro Technical Trading Strategy for the day :: After 10.30am, 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 may be closed by 12.30pm.

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 5428 and 5447 and 5470 and find support around 5391 and 5373 during the day.
Based on present market position, Nifty fut would be in bearish zone below 5430 and in bullish zone above 5455 for Monday.Stop loss for Nifty futures positional trade (short ) is 5510 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