Astro Technical Guide for Tueday, the 24th February, 2015

Market  Outlook for 24/02/2015 :: Dr B Amaranatha Sastry

Astro Info :: Moon transits in  Bharani in Aries .    

Tithi : Sukla Shashti  ; Weekday:: Tuesday. 

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

Senstive time:: 10.05 to 10.50am; 11.55am; 2.15pm;

Nifty                               8834   -79

 

Market Outlook for  Tuesday, 24th February, 2015  :: Pullback ….!!!

Nifty  encountered huge selling pressure in Seconf half of the day and closed with a loss of more than 70 points , Second day of fall. Nifty had fallen not being able to pierce the strong resistance of 8925. With this fall, short term trend turns bearish but would be confirm with one more negative close.  Nifty spot is expected to encounter resistance at 8795, 8830 and find support at 8715, 8680 for  Tuesday.    While Global cues, Quarterly results   and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to have a pullback for the previous Two days’ of fall.

 

 

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Trading strategy :: 

Nifty closed below 8775 and turns Bearish. However, one more negative close would make it bearish. Further, important events this week could make the market more volatile .  Further downside too possible as long as Nifty does not close above 8900. Hence caution at higher levels.

Breakout / Break Down Levels::

Breakoutlevel  is 8902 and Breakdown level 8702 for Nifty spot for Tuesday .,  It is unlikely that both levels would be breached (under normal circumstances)., 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.

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