Astro Technical Guide for Monday, 7th February, 2011 and general outlook for the week::
Astro Info:: Moon transits in Uttarabhadra ruled by Saturn and persons born in Bharani, Pubba and Poorvashadha constellations and persons born in Aries and Leo Zodiac signs are advised to be alert in their dealings.
Astro Technical Position for the week :: Nifty remained sideways for the entire week and fell sharply on Friday and fell more than 2% during the week and the entire fall coming on Friday itself. Market usually ignores positive factors when it is bearish and ignores negative factors when it is Bullish. Nifty traded below psychological 200 DMA through out the week and technically Nifty comes out of bear grip only when it closes above the magic figure of 5555. Level of 5350 is the last major support below which Market would get into a further low range . Market is technically weak and macro fundamental factors such as rising inflation, rising interest rates and rising commodity prices continue to be a matter of concern which would affect corporate earnings. Below 5350, further fall in Nifty can not be ruled . On Gann turn date of Feb 4th, Market nosedived . Next sensitive dates in the month are Feb 17 and 21. Further fall after pullback can not be ruled out as Feb 21st poses another round of Fall (possible Double Bottom possible around Feb 21st) . Feb 10th is important during the week in view of Pluto Venus conjunction. In view of the above, a technical pull back in view of the oversold position can not be ruled out. However, pullbacks may be used to reduce long positions . Nifty above 5555 is healthy and long positions below 5555 may be avoided except after further significant correction when stocks becomes fundamentally attractive.
Nifty is already in bear grip and would come out of the bear grip if it closes above 5555 in the initial part of the week and above 5500 in second half of the week.
Technical Levels for the week :: Nifty futures is strong above 5405 with resistance around 5460,5500 and 5570 and weak below 5370 with supports around 5315, 5275, 5205 for the week. Based on present market movement, Nifty fut would be in bullish zone above 5385 and in bearish zone below 5340 during the week . Nifty is expected to trade between 5500 / 5570 on the higher side and between 5275 / 5200 on the lower side for the week. WD Gann’s natural numbers which would act as natural support and resistance are :: 5149, 5221, 5293, 5366, 5440,5514, 5588, 5663,5739, 5815 during the week.
Sensitive / Trend change Timings for the day :: 10.20am; 12.30pm; 230pm;
Intraday Trend for 07.02.11 ( Opening Hour Crucial (Bullish) …Generally Better… Closing Subdued!!! )On the basis of planetary position , Market is expected to remain better in the opening hour and generally remain better for most part of the day and remain subdued in the last hour,
Bank, Communication stocks are expected to remain better while PSU stocks could remain subdued.
Astro Technical Trading Strategy for the day :: After 9.30am, if Nifty fut trades above High Price recorded upto 9.30am, long positions can be taken with Low level as stop loss and such positions may be closed by about 2.00pm., (Long positions are against general trend of the market and need to be closely monitored). After 2.30pm, if Market appears to be becoming weak, short positions may be taken with High level as stop loss and such positions may be closed by end of the day.
Technical Levels for the day:: Nifty Futures would be bullish above 5403 with resistance around 5430 and 5460 and weak below 5380 with supports around 5345 and 5320 for the day. Nifty fut is expected to trade between 5425/ 5460on higher side and 5350/ 5315 on Lower side.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
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