Bullish Bias above 5925  ..!!!

Astro Technical Guide  and
General outlook for the week (04.10.2013 to 11.10.2013) ::

 Planetary Position ::  During the current week Moon would be
transiting  from Swathi in Libra to Poorvashadha in Sagittarius    Mercury ,transits in Swathi constellation in Libra.  Mars  transits in  Leo in Makha   constellation . Saturn continues in Libra in  Swathi constellation and  Aquarius navamsa.  Jupiter transits in Gemini in Punarvasu  in Taurus Navamsa.  Venus transits in in Anuradha  in Scorpio  sign.  Mars’ completed its transits in Cancer and enters friendly Leo. Sun is in waning square to Uranus and Pluto  but in applying square to Jupiter and could affect PSU Banks particularly in Second half of the week Outer planets continue to remain under hard aspect .  Considering astro technical setup, market   would undergo highly volatile  movements with bearish bias due to hard aspects of Sun with outer planets till October Second  week.

Nifty Outlook for Next Week :: 04.10.2013 to 11.10.2013 ( Nifty Bullish above 5925  )…  

 NIFTY :: 5907 (+74)  

After a week’s respite, Nifty closed in the green and is at crucial juncture as close above 5925 would make it bullish once again with a possibility of a new high. Technically, Bearish Head and Shoulder pattern  visible after a close below 5800 would get negated on a close above 5925. Q2 results season would be commencing and market movement would be driven by results of major companies. Estimates do not show all round growth and hence scrip specific movements can be expected. While US Shut down did not have any impact on Indian stocks, its decision of October 17 over raising of debt ceiling would be quit crucial. Till then, uncertainty could prevail  Nifty is once again above 200  DMA  and until it moves below 50 DMA, it can not be considered bearish. Golden Cross of 50DMA above 200 DMA only would confirm the Meidum / Long term bullishness. As we draw close to State Elections (which can be considered as a referendum for Lok Sabha polls), political scenario also would be hotting up and ofcouse, in our country, it is all the more important as Politics influence Economics. While short term trend appears bullish, it would gain strength on a close above 5925 while a close below 5800 would put it in jeopardy. Technically, a negative weekly close would negate short term trend while a positive close would take it up further. Hence Buy on Decline may be followed with 5800 as Stop and Reverse.

Nifty would become stro9ng  on a decisive close above 5925 (with target of a new high).

For the coming week, Nifty spot is expected to face resistance at
5985,  6060, 6140 and find support at 5830, 5755, 5680.

Nifty presently in bullish zone for short term would become further strong on a close above 5925 while a close below 5800 would make it bearish for short term.

Advice for Traders :: Nifty seems to be on its uptrend once again which would be confirmed on a close above 5925. Further long  positions can be considered when it closes above 5925 with a stop loss of 5800 (on close basis). In case it maintains above Weekly Open, uptrend can extend till the week ending 18^th.

WD Gann’s
natural numbers which would act as natural support and resistance are
, 5603,: 5739: , 5815, 5891, 5968, 6046, 6124, 6202   during the week.

Further , Weekly Open level is very important for the entire week.
Short positions may be avoided as long as it maintains / closes above
Weekly open and vice versa

MCX Commodities :: 07/10//13 to 11/10//13 … 

Copper :: (454)  Copper traded  between 471 and 448 last week and has made a lower bottom once again and failed to move up. While the chart pattern suggests bullishness, buying may be made only a firm close above 470. For the next week neutral range is 466 and 457. It would be bearish below 457.

Crude Oil  :: (6386) Crude traded in a narrow range last week between 6477 and 6341 and appears trying to find support and prepare a base for going up.  For the next week, it would be neutral between 6550 and 6375 and bullish trend would return only on a decisive close above 6550. 

Gold :: (29704 ) Gold traded   between 30840 and 29351 on MCX and between 1354 and 1277 $ in international market. Neutral range for next week is 29600 and 30500 and short trm bullishness would return on a close 30500 and it would be prudent buy above 30850. Present bullish chart pattern would negated on a close below 29000 in domestic market and below 1265$ in international market.

Lead :: (126) Lead traded between 131.60 and 125.35 last week and it continues to be bearish. However, it should be sold only on smart rise as logical stop loss is far away at 142. For the week, expect retracement for the fall only if  maintains above 131 and it would be neutral between 127 and 131.

Natural Gas :: (216.10 ) Natural Gas traded between 230.5 and 215.70 and is in short term bearishness. Neutral range is 220 and 228  and there is strong resistance at 239. Sell on rise with 239 as stop loss. In international market too, there is strong resistance at $3.90.(Present price $3.51)

Silver :: (48187 and 21.75 USD) It traded between 49899 and 46866 on MCX and between 22.11 and 20.63 $ in international market. In international market it is weak while it is not so in domestic market due to USD INR parity. For the next week, it is neutral between 49400 and 48500 and would turn marginally bullish above 49500. However, in international market, if it trades below 20 , it can be expected to make a new low.

Zinc :: (114.30) Zinc traded between 119.90 and 113.55  during  last week  and failed on its upmove and entered bearishness with strong resistance at 124.50. For the next week, neutral range is 118 and 115. “Sell on smart Rise” (possible if it continuously trades above 118) with strict stop loss at 124.50.

Commodity price movement is influenced by USD INR movement.

Commodity Trading is highly risky and strict stop loss is to be followed.