WEEKLY ASTRO GUIDE FOR NIFTY

MONDAY-TUESDAY RANGE

ASTRO RANGE FOR THE MONTH

For the week (03.02.2014 to 07.02.2014)
During the current week Moon would be
transiting  from Uttarabhadra to Krittika in Aries.    Sun transits in Sravana and Dhanishta  constellations in Capricorn. Mercury transits in  Sathabhisham in    Aquarius sign and gets into Retrograde motion from 7^th February to 28^th February.  Mars  transits in   Chitta constellation in Virgo and moves to Libra on 4^th February.   Saturn continues in Visakha  constellation in  Gemini navamsa.  Jupiter transits in Retrograde motion (till 6^th March 2014)  in Gemini and presently   in  Pisces Navamsa .  Venus gets out of retrograde motion and becomes direct But Mercury gets into retrograde from 7^th for Three weeks. Thereafter Mars and Saturn would get into Retrograde motion from 1^st   week of  March. In view of these retrograde motions, market might not be able to have proper trend. Further, Range of Monday and Tuesday would be the reference range for this month and Nifty would be Bullish above the High and Bearish below the Low. Further, Jupiter would be in square aspect to Uranus and oppose Pluto  with T square,  indicating surprising reversals and technical support and resistance levels would be often broken and highly volatile movements could be witnessed.

Nifty Outlook for Next Week :: 03.02.2014 to 07.02.2014 (Shaky Short Term Trend )…  

 NIFTY :: 6090 (-177)  

Previous Down move got accelerated during the week and Nifty fell by about 3% during the week and closed below 6100 mark.  Global cues were the cause for this downtrend and this time, all the world markets appears to have reversed their short term trend. However, Nifty continues to be above 200 DMA and 50 DMA is above 200 DMA suggesting that the long term bullish trend is intact. Bank Index which is a major component of Nifty is distinctly weak (particularly PSU Banks) and unless Bank Nifty  completes the down cycle and reverses the trend, Nifty can not become strong. Hence Focus on Bank stocks for reversal to track Nifty. IT and Pharma indices are generally strong and Energy major Reliance needs to take support at lower level and go up to support Nifty. Further, broader index does not speak of the total market movements as there was scrip specific movement and better to focus on scrip specific movement. Sectoral and Scrip rotation has become the order of the day. Big event of 2014 is Loksabha Elections and the outcome would dictate the future trend. However, if Government’s policies provide a thrust to growth, there will be turnaround which would be reflected in stock market.  As poll surveys predict that NDA is ahead of others, market could remain optimistic. Any sharp fall upto about 5900 – 6000 could be utilized as an opportunity to accumulate quality stocks.

Medium and Long term trend is Bullish and Short term trend is Bearish and would reverse above 6175 again (with strong support around 5950).

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).  . 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 5950.

For the coming week, Nifty spot is expected to face resistance at
6170,  6250, 6325 and find support at 6010, 5935, 5860.

Nifty spot has strong  Resistance at 6175 and would get out of beargrip only if it closes above 6175 level. Further, there is strong support around 5950 and can be expected to take support around the same.

Advice for Traders :: Nifty closed below the strong support level of 6125 for Two days and unless it closes above 6175, bearishness can be expected to continue. However, it might not go below 5950 easily. Hence Nifty could trade between 5950 and 6200 next week. In view of the early days’ of F&O series, pullback can be expected or support at lower levels.

WD Gann’s
natural numbers which would act as natural support and resistance are
, : 5739: , 5815, 5891, 5968, 6046, 6124  , 6202 ,6281, , during the week.