Nearing the Short Term Peak.. Caution, the Buzzword ….. !!!

Astro Technical Guide for Monday, 8th November , 2010 and general outlook for the week::
Astro Info:: Moon transits in Jyeshta ruled by Mercury and Persons born in Krittika, Uttara and Uttarashadha constellations and persons born in Sagittarius and Aries Zodiac signs are advised to be alert in their dealings.
Astro Technical Position for the week :: Nifty made one of the biggest gains during week going up by more than 4.5% and made a new 52 week high and very close of the all time high also. Nifty went up on all the Five days during the week to close the Diwali Murat trading above 6300 mark on NSE and above 21000 mark on BSE. This is aided by huge FII Investment during the week, which was the only positive astro factor expected during this period. Finally, it is the Demand (driven by huge liquidity) which is driving the market up. As market has gone up too much in a short time, investors and traders are advised to be cautious and to remain light at this level. Technically, Nifty seem to nearing the peak (6400 to 6450) with a possible upside of about 100 to 150 points where from it may reverse for a reasonable correction. Astrologically, too, New Lunar month , commenced on 6.11.10 suggests correction upto 20/11/10 and recovery thereafter. Mars and Mercury conjunction of 21/11/10 is quite a bearish combination for Indian Market , hence significant pullback may be expected before that date. Technically, Nifty remains bullish above 6150 and as Market is well above the 6150 mark , a pull back upto that level also would mean significant correction, hence caution is advised.
Technically, Nifty would be bearish if it closes below 6150.
Technical Levels for the week :: Nifty futures is strong above 6360 with resistance around 6402, 6452, 6535 and weak below 6290 with supports around 6235, 6185 and 6105 for the week.Based on present market movement, Nifty fut would be in bullish zone above 6245 and in bearish zone below 6190 during the week . WD Gann’s natural numbers which would act as natural support and resistance are :: 6046, 6124, 6202, 6281, 6361, 6441, 6487,6521 during the week.
Sensitive / Trend change Timings for the day ::9.40am; 11.40am; 2.20pm;
Intraday Trend for 08.11.10: : (First Half Subdued and Second half Better !!! )Intraday Trend for 01.11.10:: On the basis of planetary position , Market is expected to remain generally subdued in the first half and may recover after 12pm to 3.10pm;
Communication and power stocks are expected to be subdued while FMCG, Entertainment, Cement and Steel may remain better.

Astro Technical Trading Strategy for the day :: After 1.30pm, if Nifty fut trades above Average Price by about 10 points , long positions can be taken with a stop loss below Average Price and such positions may 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 6332 with resistance around 6352 , 6371 and 6400 and bearish below 6307 with supports around 6288, 6269 and 6237 for the day.
Based on present market position, Nifty fut would be in bullish zone above 6320 and in bearish zone below 6305 for Monday.Immediate resistance is seen at 6400 with a strong short term support at 6150.
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