Market Close to Key Resistance Level…!!!!

Astro Technical Guide for Monday, 21st February, 2011 and general outlook for the week::
Astro Info::
Tithi :: Magha Bahula Chaturdhi ;
Day :: Monday
NAkshatra :: Hastha;
Moon’s conjunction with Saturn may evoke fear psychosis among the market players and may not augur well for the market.
Persons born in Punarvasu, Visakha and Poorvabhadra and persons born in Libra and Aquarius Zodiac signs are advised to be alert in their dealings.
Astro Technical Position for the week :: Last week, Market experienced a mirror image(gain from Monday to Thursday and fall on Friday) of the previous week(fell from Monday to Thursday and gain on Friday) and to close with a gain of more than 2 % during the week. Nifty had a very good pull back from the Low levels and reached high level for the Month . However, technically, worst for the market is not over as long as Nifty remains below 5700. If Nifty closes below 5425, another downward journey could commence which might take it to a New Low in the coming weeks. Astrologically too, Mars and Mercury conjunction on Monday does not augur well for the Market and forthcoming Mars and Mercury conjunctions till April 2011 does not augur well for the market. Fundamentally, too, fear of rate hike, commodity price hike would affect corporate profitability while inflation appears to be receding mainly due to base effect. Considering the market from Astro, fundamental and technical angles, Market is at key resistance level and can experience either double Bottom or a lower level in the forthcoming period. Further F&O expiry on Thursday and Pre Budget expectations would influence the market movement. Hence, high degree of cautions is advised at current levels and Nifty can reverse from any level below 5650 and fall can get accelerated below 5425(on close basis).

Technical Levels for the week :: Nifty futures is strong above 5485 with resistance around 5575, 5645 and weak below 5430 with supports around 5345, 5275 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 . Nifty is expected to trade between 5610 / 5650 on the higher side and between 5310 / 5275 on the lower side for the week. WD Gann’s natural numbers which would act as natural support and resistance are ::5221, 5293, 5366, 5440,5514, 5588, 5663, 5739 during the week.
Sensitive / Trend change Timings for the day :: 12.15pm; 12.55pm; 1.30pm;
Intraday Trend for 21.02.11 ( Volatile Movements with Subdued Closing…!!! )On the basis of planetary position , Market is expected to remain better in the Opening Session and remain volatile after 10am and may become subdued after 1.30pm.,
Cement, Steel, Mining stocks may remain better while FMCG/Entertainment stocks may remain subdued.
Astro Technical Trading Strategy for the day :: After 1.30pm , if Nifty fut trades below Average Traded Price by about 10 points, short positions can be taken with a stop loss of about 10 points above Average Traded Price and such positions may be closed by end of the day. (Short positions are against general trend of the market and need to be closely monitored.
Technical Levels for the day:: Nifty Futures would be bullish above 5470 with resistance around 5505 and 5530 and weak below 5445 with supports around 5415 and 5390 for the day. Nifty fut would be in Bullish zone above 5535 and would be in Bearish zone below 5485 for Monday. Nifty fut is expected to trade between 5515/ 5535 on higher side and 5405/ 5385 on Lower side.Nifty’s close above 5425 would signal temporary topping out of the Index (with key resistance at 5600 – 5650 level) and fresh resumption of downtrend. 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..
Prosperous Investing and Trading..
Dr B Amaranatha Sastry