Astro Technical Guide for 9th January, 2015

 Market  Outlook for 09/01/2015 :: Dr B Amaranatha Sastry,

Nifty                               8235      + 133

 

Market Outlook for Friday, 09th January, 2015  :: Selling at Higher Levels ….!!!

Nifty opened with an upside gap due to global cues and recovered further and closed at the highest level and closed with a gain of 133 pts and above 8200 level. One more positive day with a close above 8275 could signal the end of correction.  Nifty spot is expected to encounter resistance at 8275, 8310 and find support at 8195, 8160 for Friday.   While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market  is expected to face selling pressure at higher levels after the opening and could again recover in the closing session.

Astro Info :: Moon transits in  Makha in Leo  and market can be expected to be generally subdued after the opening movements and could face selling at higher levels and recover in the closing session

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Trading strategy ::  After 10am, If Nifty trades below the Opening level, Short positions can be considered with high as stop loss and to be closed by 12.30pm.,

Sensitive / Trend change time::  12.30pm., 2.00pm

Breakout / Break Down Levels::

Breakoutlevel  is 8262 and Breakdown level 8148 for Nifty spot for Friday .,  It is unlikely that both levels would be breached., If Breakout level is breached., It is a Buy on Decline with Low as Stop loss and if Breakdown level is breached, It is a sell on rise with high as stop loss. Alternatively, if Nifty is unable to cross the Breakout level, short positions, can be considered with Breakout as stop loss and unable to breach the breakdown level, long positions can be considered with Breakdown level as stop loss.

Individuals born in Virgo and Capricorn signs and in Rohini, Hastha and Sravana  may remain cautious in their transactions.