Astro Technical outlook for Tuesday, 10th March, 2015

Market  Outlook for 10/03/2015 :: Dr B Amaranatha Sastry

Astro Info :: Moon transits in  Swathi   in Libra.    

Tithi : Panchami     ; Weekday:: Tuesday. 

Individuals born in Scorpio and Pisces    signs and in Aslesha, Jyestha and Revathi   constellations    may remain cautious in their transactions.

Senstive time:: 10.30am; 12.00pm; 3.00pm

Nifty                               8757  -181

Market Outlook for  Tuesday, 10th March, 2015  :: Recovery towards Close….!!!

Nifty opened with a huge gap down and continued its fall thereafter and closed at the lowest level with a loss of about 2%. Short term trend turns bearish as long as it closes below 8950. However, if it falls further , a minor pullback can be expected . Nifty spot is expected to encounter resistance at 8790, 8830 and find support at 8715, 8675.   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  be generally subdued in the forenoon and could recover in  Second half particularly towards close.

 

.
Trading strategy :: 

Nifty gets into short term bearishness. However, some pullback can be expected if it falls further. Hence if Nifty takes support above 8710, long positions can be considered with stop loss of 8699 (in the afternoon) and profit may be booked towards close. (Nifty can be expected to trade above ATP after 1.00pm for the day and may not breach the low. However, above strategy is against the short term trend and needs to be handled only by traders with high risk appetite.

Breakout / Break Down Levels::

Breakoutlevel  is 8930 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.

 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)