Astro Technical Guide for Tuesday, 24th MArch, 2015

Market  Outlook for 24/03/2015 :: Dr B Amaranatha Sastry

Astro Info :: Moon transits in  Krittika   in  Taurus.    

Tithi : Panchami     ; Weekday:: Tuesday. 

Individuals born in Gemini and Libra   signs and in Aardra, Swathi and Sathabhisham    constellations    may remain cautious in their transactions.

Senstive time:: 9.50am; 14.20pm

Nifty                               8551  -20

Market Outlook for  Tuesday, 24th March, 2015  :: Forenoon Better….!!!

Nifty traded in a narrow range with negative bias and closed with a minor decline. With derivative expiry only 3 days away, scrip wise movement is to expected and  most stocks being bearish further down side can not be ruled out. However, Nifty is close to medium term support of about 8525 and could offer support around 8500.  Nifty spot is expected to encounter resistance at 8590, 8630 and find support at 8510, 8475 for Tuesday.  While Global cues and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to witness zigzag movements  with better forenoon and possible profit booking towards close of the day.

 

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Trading strategy :: 

Forenoon is generally expected to be better and could experience selling pressure towards close. However, short term trend is bearish and depending on risk profile appropriate strategy may be designed.

Strong support for Nifty around 8500.

Breakout / Break Down Levels::

Breakout level  is 8625 and Breakdown level 8523 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.

 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)