WEEKLY ASTRO GUIDE FOR NIFTY

VOLATILE MOVEMENTS

Inputs by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

sastry.saaketa@gmail.com

09848014561

 During the current week Moon would be transiting  from Pubba in Leo to Swathi in Libra. Sun transits in Uttarashadha and Sravana constellations in Capricorn. Mercury transits in Sravana and Dhanishta in  Capricorn sign. Mars  transits in   Chitta constellation in Virgo.   Saturn continues in Visakha  constellation in Gemini navamsa. Jupiter transits in Retrograde motion (till 6^thMarch 2014)  in Gemini and presently in  Pisces Navamsa .  Venus, in retro motion till 1^st February 2014,  transits in  Poorvashadha  constellation in  Sagittarius ..With Moon and Mars in Virgo making a grand square effect with Jupiter Venus , Uranus and Pluto , highly volatile movements are possible.  Further , Nifty  crossed  first resistance target of 6305 of monthly Astro range ’s range and closed at 6262 and is positive for the next Two weeks  as long as it maintains above 6225. Further with both auspicious planets i.e., Jupiter and Venus being in retrograde motion, sustained upside too  can not be expected. New Solar months commences on 14^th January in Aries Lagna with Ketu being present and aspected by Saturn could restrict the movement and upside appears capped too.

 

Nifty Outlook for Next Week :: 20.01.2014 to 24.01.2014 (Short Term Range 6225 and 6350)…  

 

NIFTY :: 6262 (+91)  

After Two weeks of fall, Nifty gained about 1.50% last week , despite Friday’s fall of about 1%. While Nifty gained, broader market has not been performing in view of negative market breadth (adverse Advance Decline ratio).  However, Nifty continues to remain within a range (6125 and 6325) for the last Six weeks. RBI policy and Fed policy towards month end could provide a directional move.. Short term trend continues to remain neutral with upside  bias and closer to the upper  end of the range ie., 6325.  While Medium and Long term is bullish, short term trend has been oscillating in a narrow range with bullish / bearish bias . Further, market moved up smartly in the last quarter of 2013 hoping for a pro market / pro reform Government at the centre in the next election. Market is hoping for a performing Government in next elections and is factoring in the bullish sentiment. Hence, it all depends on Election outcome for real direction to the market.  If a market / economy friendly Government comes to power, Nifty would surge sharply while a Government without clear mandate / a Government following populist measures could bring down market sharply, which could be utilized for long term buying. In view of the recent political developments, it appears unlikely that the market would make another new high below Elections  and next course of market direction depends on election outcome.  Scrip / sector specific movement has been  in focus in view of Q3 results. 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 (after Elections). However, upside breakout is possible in view of fundamentals, while steep downside can not be expected as it would be compelling buy based on fundamentals. . Technically, Nifty is in a narrow range and major support at 6125 and resistance at 6325 (on close basis)  and unless either of these levels is broken decisively, it can be considered to be in neutral range Nifty is  above 200  DMA   and   50DMA is above  200DMA and makes a clear case of “Buy on Decline” with 200 DMA as stop loss.  .Any decent correction is an opportunity for medium / long term investors and  it is a clear case of “Buy on Decline”  long as it holds above 200 DMA, which is presently placed around 5900.

For the coming week, Nifty spot is expected to face resistance at
6340,  6420, 6500 and find support at 6185, 6105, 6025.

Nifty spot has strong  support at 6125 and resistance at 6325. Nifty needs to decisively close below 6125 for a couple of days to sustain downward  momentum. However, based on the present chart pattern, it has immediate support at 6225 below which it could become weak for short term.

Advice for Traders :: Nifty has been trading between 6325 and 6125 for the last Six weeks and can be expected to remain sideways. However, scrip specific actions is possible in view of the results. Strong support exists at 6225 below which it can be expected to fall and strong resistance too exists around 6350.

WD Gann’s
natural numbers which would act as natural support and resistance are
, : 5968, 6046, 6124, 6202 ,6281, 6361, 6441, during the week.