Astro Technical Guide for Tuesday, 10th February, 2015

Market  Outlook for 10/02/2015 :: Dr B Amaranatha Sastry,

Astro Info :: Moon transits in  Chitta and Swathi in Libra .   

Tithi : Bahula Shashti ; Weekday:: Tuesday. 

Individuals born in Scorpio and Pisces    signs and in Pushyami, Anuradha and Uttarabhadra    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., Nifty has breached 8600 Hence Downside target reached.

Senstive time:: 10.15am; 12.00pm; 2.00pm;

 

Nifty                               8526   -135

 

Market Outlook for  Tuesday, 10th February, 2015  :: Closing Session Sensitive….!!!

Nifty opened with a down gap due to Delhi exit poll results and fell once again sharply in the closing hour to end with a loss of 135 points, recording Seventh successive Down day for markets. Stop loss for Nifty’s short positions may be maintained at 8775 (on close basis). Nifty spot is expected to encounter resistance at 8565, 8600 and find support at 8485, 8450 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  is expected to trade in a zigzag manner with bearish bias and closing session could be sensitive. Further strong weekly support is seen around 8450.

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 and is getting into oversold zone.  Nifty can be expected to find strong support around 8450. Hence fresh shorts between 8450 and 8500 might not be considered.

Hence , only intraday shorts if Nifty trades below Open level in the opening session / below ATP in the afternoon session may be considered with suitable stop loss.

Breakout / Break Down Levels::

Breakoutlevel  is 8628 and Breakdown level 8494 for Nifty spot for Tuesday .,  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)