Astro Technical Guide for Friday, 6th February, 2015

Market  Outlook for 06/02/2015 :: Dr B Amaranatha Sastry,

Astro Info :: Moon transits in  Poorva Phalguni in Leo .   

Tithi : Bahula Thuteeya ; Weekday:: Friday. 

Individuals born in Virgo and Capricorn    signs and in Mrigasira, Chitta and Dhanishta    constellations    may remain cautious in their transactions.

Nifty Range of Thursday and Friday(Combined High and Low of these Two days i.e., 22 and 23 January) may be regarded as the reference range for the next Three weeks and can be expected to be bullish above the High of this range and Bearish below the low of this range. Now the range is  8866 and 8727 and Hence further bullish above 8866 and Bearish below 8727 and neutral in between these levels.

Nifty had traded below 8727 during the last Two days and target of about 8600 opens up.,

Senstive time:: 11.35am; 12.00pm; 2.15pm;

 

Nifty                               8712   -12

 

Market Outlook for  Friday, 06th February, 2015  :: Mid Session Better ….!!!

Nifty traded in a highly volatile manner and encountered heavy selling at higher levels to close with a minor loss. Barring IT and FMCG, all other indices closed weak for the day. Stop loss for Nifty’s short positions may be maintained at 8850 (on close basis). Nifty spot is expected to encounter resistance at 8755, 8795 and find support at 8670, 8630 for  Friday.   While Global cues, Quarterly results   and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market  is expected to trade in a zigzag manner with recovery from lower levels in midsession and possible profit booking towards close.  Hence any intraday rise may be utilized to Sell. Further, Delhi Election outcome would weigh heavily on the market sentiment till the declaration of results.

 

 

 

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Trading strategy :: 

Over all trend is Bearish.,  Short positions may be considered in the afternoon session if Nifty trades below the ATP with high level as stop loss to be closed by end of the day.,

Breakout / Break Down Levels::

Breakoutlevel  is 8977 and Breakdown level 8645 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.

Disclaimer ::  Above analysis  is based on planetary movements and is intended for guidance / educative purpose and traders are advised to be highly cautious with proper risk management mechanism as Trading is highly risky and not trade only based on the analysis given above.

 Live Programme on 6TV by Dr B Amaranatha Sastry can be viewed between 8.30am to 9.00am during weekdays  or can be watched on Internet  http://in.yupptv.com/949/6tv (between 8.30am to 9.00am)