BULLISH...BUT CAUTIOUS AT HIGHER LEVELS
Planetary
Position :: During the current week Moon would be
transiting from Sathabhisham in Aquarius to Aswini in Aries . Sun transits in Jyeshta constellation in Scorpio. Mercury ,transits in Anuradha and Jyeshta constellations in Scorpio. Mars transits in Uttara constellation in Virgo. Saturn continues in Visakha constellation in Taurus navamsa. Jupiter transits in Retrograde motion (till 6thMarch 2014) in Gemini and presently in Taurus Navamsa . Venus transits in Uttarashadha constellations in Capricorn sign. Range from Monday to Thursday can be considered as the reference range for the next Three weeks and market would be bullish above the high and bearish below the levels. Caution is suggested at higher levels as correction is possible from the week beginning 17th December or later in view of the Mars’ aspects with Uranus and Pluto towards the month end.
transiting from Sathabhisham in Aquarius to Aswini in Aries . Sun transits in Jyeshta constellation in Scorpio. Mercury ,transits in Anuradha and Jyeshta constellations in Scorpio. Mars transits in Uttara constellation in Virgo. Saturn continues in Visakha constellation in Taurus navamsa. Jupiter transits in Retrograde motion (till 6thMarch 2014) in Gemini and presently in Taurus Navamsa . Venus transits in Uttarashadha constellations in Capricorn sign. Range from Monday to Thursday can be considered as the reference range for the next Three weeks and market would be bullish above the high and bearish below the levels. Caution is suggested at higher levels as correction is possible from the week beginning 17th December or later in view of the Mars’ aspects with Uranus and Pluto towards the month end.
Nifty
Outlook for Next Week :: 09.12.2013 to 13.12.2013 (Book Profits at
Higher Levels )…
NIFTY
:: 6260(+84)
Nifty
surged further for the Second week as exit poll results had given a boost to
the market. World markets have gone up on Friday indicating a bullish opening
for the week. As Final results of
Assembly elections are in line with Exit poll results, further rise too is
possible. Semi finals of Elections point towards a market friendly and
development oriented Government in 2014 which would be discounted in advance by
market and “Buy on Decline “ strategy may be followed. While a new is high is on
cards for Nifty during the week, caution
too is advised and profit booking / selling could emerge at higher levels in view
of the euphorically charged atmosphere. Fresh buying at higher levels may be
avoided and be made with long term view with an intention of averaging on the downside. Nifty could seek
higher levels and register a new High during this month. Positive feature of
the current rise is the participation of several midcap stocks which have
registered smart rise. While further rise is possible, stock selection has
become an important factor as several stocks continue to remain laggards. Hence
an approach combining Technicals and Fundamentals is required to spot winners.
Further, Nifty has been trading in a range of 4600 to 6300 for more than 4
years and is due for a powerful breakout sooner than later. When Nifty
clears breaks this trading range and continuously trades above 6400, it has
potential to test 8000 over a period of time. Stock market discounts
future in advance and is ahead of economy and fundamentals atleast by Six
months. and medium term bullish sign in markets presupposes improving
fundamentals. Nifty has been making higher bottoms and can be expected
to breakout and make higher tops. “Buy on Decline” may be followed for Medium /
long term. Traders should be ever vigilant to track short term movements .
Presently short term movement too is positive and long positive may be
continued with a stop loss of 6150 on close basis. Nifty is above
200 DMA and 50 DMA and the 50DMa also has crossed
200DMA and makes a clear case of “Buy on Decline” with 200 DMA as stop loss.
.As market is bullish on all time frames, it is a clear case of “Buy on
Decline” for Medium / Long term as long as it holds above 200 DMA.
For the coming week, Nifty spot is expected to face resistance at
6340, 6420, 6500 and find support at 6180, 6100, 6025.
Nifty , presently in short term bullishness, would reverse only on a close below 6150 in first half of the week and below 6200 in Second half of the week. .
Advice
for Traders :: Nifty is Bullish in the short term when Nifty makes a new high due to euphoric and
charged atmosphere, long positions may be avoided and profit booking can be
resorted to particularly in leveraged positions. Caution is advised at higher
levels.
WD
Gann’s
natural numbers which would act as natural support and resistance are
, : 5968, 6046, 6124, 6202 ,6281, 6361, 6441, 6487 during the week.
natural numbers which would act as natural support and resistance are
, : 5968, 6046, 6124, 6202 ,6281, 6361, 6441, 6487 during the week.
Inputs provided by
Dr.Bhuvanagiri Amaranatha Sastry
Astro Technical Analyst
Saketha Consultants, Hyderabad
He can be reached @sastry.saaketa@gmail.com
09848014561
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