Astro Technical Outlook for Thursday, the 28th February, 2015

Market  Outlook for 26/02/2015 :: Dr B Amaranatha Sastry

Astro Info :: Moon transits in  Rohini  in Taurus .    

Tithi : Sukla Ashtami  ; Weekday:: Thursday. 

Individuals born in Gemini and Libra     signs and in Punarvasu, Visakha and Poorvabhadra     constellations    may remain cautious in their transactions.

Senstive time:: 10.45am; 11.35 to 12.30;  1.40pm; 2.30pm;

Nifty                               8867   +5

Market Outlook for  Thursday, 26th February, 2015  :: Scrip Specific Movements ….!!!

Nifty  opened with an upside gap due to global cues and gave up all the gains in Second half of the day to close flat for the day. General pessimism could be observed despite Nifty not recording negative close.   Nifty spot is expected to encounter resistance at 8805, 8840 and find support at 8730, 8695 for  Thursday.  Being last day of derivative expiry, scrip specific movement can be expected. Further Railway Budget to be presented on Thursday could be a precursor for what is in store in the General Budget of Saturday.   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 witness scrip specific movements with sudden movements due to derivative expiry.

 

 

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Trading strategy :: 

Scrip Specific movements are to be expected  due to derivative expiry. Railway Budget could set the tone for the forthcoming General Budget. Caution at Higher Levels and Bearish bias to be expected. Wednesday’s High could become strong resistance for the market. Unless Nifty closes above 8870, short term down trend could continue.

Breakout / Break Down Levels::

Breakoutlevel  is 8863 and Breakdown level 8728 for Nifty spot for Thursday .,  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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