Weekly Astro Guide for Stocks and Comodities 14/10/2013

Further Bullishness but Caution at Higher Levels  / Monthly  Astro Range between Tuesday and Friday… !!

Astro Technical Guide  and
General outlook for the week (14.10.2013 to 18.10.2013) ::

 Planetary Position ::  During the current week Moon would be
transiting  from Dhanishta in Capricorn  to Revathi in Pisces.    Mercury ,transits in Visakha constellation in Libra.  Mars  transits in  Leo in Makha   constellation . Saturn continues in Libra in  Swathi constellation in   Pisces navamsa.  Jupiter transits in Gemini in Punarvasu  in Taurus Navamsa.  Venus transits in in Anuradha and Jyeshta constellations  in Scorpio  sign.  Mars’ continues in  friendly Leo. Mercury would be slowing down ahead of retrograde motion later this month. Hence, market too would slow down over next Two to Three weeks  and caution is advised at higher levels as Dual movements are also due later, Further, Range from Tuesday to Friday can be considered as a reference range for the next Three weeks and Nifty would be bullish above the High level and Bearish below the Low level.

Nifty Outlook for Next Week :: 14.10.2013 to 18.10.2013 ( Further Upmove   )…  

 NIFTY :: 6096 (+189)  

Nifty gained about 3% and has completed Second weekly gain. Technically, some more upside is possible and last week’s high could be taken out before it retraces again. Q2 Results season has begun and Infy has delivered once again. Nifty has been trading in a range of 4600 to 6200 for more than 4 years and is due for a  powerful breakout sooner than later.  Q2 results season would influence scripwise movements. Bank stocks have been laggards and might perform better as more freedom for risk management is likely under new RBI Governor’s regime. If Bank stocks contribute positively to the broader index, a smart rise can be expected. IT, Auto, Pharma indices are doing well and as earnings. Main concern now is political developments and in case new Government can provide the much needed leadership,  our economy should do well. Infra, Power  and Capital Goods  sectors should be taken care. Stock market discounts future in advance and is ahead of economy and bullish sign in markets presupposes bullish economy. Nifty has been making higher bottoms and can be expected to breakout and make higher tops. “Buy on Decline” may be followed for Medium / long term. Traders should be ever vigilant to track short term movements and presently, a close below 5950 would weaken the short term sentiment.  Global cues also play an important role this week as US Debt Ceiling(which is expected to resolve favourably, considering the Dow movement). Nifty is  above 200  DMA  and 50 DMA and the only hitch is 50DMa being below 200DMA. 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 weaken only on a close below 5950. Technically, one more positive weekly close can be expected  after which caution is advised.

For the coming week, Nifty spot is expected to face resistance at
6175,  6255, 6330 and find support at 6020, 5940, 5865.

Nifty presently in bullish zone for short term would become bearish on a close below 5950.

Advice for Traders :: Nifty is in uptrend and further upside is seen in this truncated week. Global cues and Q2 results play an important role. For the week Buy on Decline with 5950 as stop and reverse (on close basis).

WD Gann’s
natural numbers which would act as natural support and resistance are
, : 5739: , 5815, 5891, 5968, 6046, 6124, 6202 ,6255, 6330  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 :: 14/10//13 to 18/10//13 … 

Copper :: (445.75)  Copper traded  between 459 and 440 last week and has made a lower bottom once again on weekly basis.  While the chart pattern suggests bullishness, buying may be made only a firm close above 465. For the next week neutral range is 464 and 454. It would be bearish below 454 with a strong support around 430.

Crude Oil  :: (6207) Crude traded between 6476 and 6174 last week .  For the next week, it would be neutral between 6500 and 6350 and bullish trend would return only on a decisive close above 6500.  In international market, it closed around 102 and a strong support exists around 97. However, it would become bullish only on a close above 106.  

Gold :: (28365 ) Gold traded   between 29750 and 28321 on MCX and between 1331 and 1260 $ in international market. During the week, it breached major support levels both in domestic and international markets and has become a case of “Sell on Rise” from “Buy on Decline”. For the next week, it would be in neutral range between 30400 and 29600 and hence in oversold zone and due for a pullback which may be used for selling. However, there is strong temporary support around 27500 in domestic market  and around previous low of 1200$ in international market.

Lead :: (127.90 Lead traded in a narrow range  between 129.25 and 127 last week. It would be in neutral zone between 129.25 and 127. While it is bearish, it should be sold only on smart rise as Stop loss level is far away at 142.  Pullback can be expected if it maintains above 129.50.

Natural Gas :: (2 31 ) Natural Gas traded between 234 and 217 with higher tops and higher bottom on weekly basis. Neutral range is 227 and 218 and is in short term bullishness aslong as it maintains above 227.

Silver :: (46891 and 21.26 USD) It traded between 50123 and 46700 on MCX and between 22.52 and 20.95 $ in international market. For the next week, it is neutral between 49500 and 48100 and would turn marginally bullish above 49500. However, in international market,there is strong su[[prt at 20.55$.

Zinc :: (115.60) Zinc traded in a narrow range . between 117 and 113.90  during  last week  and is in  bearishness with strong resistance at 124.50. For the next week, neutral range is 117 and 115. “Sell on smart Rise” (possible if it continuously trades above 117) with strict stop loss at 124.50. Alternatively, mild buying can be attempted above 117 with 115 as stop loss for a reasonable pullback.

Commodity price movement is influenced by USD INR movement.

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