CLOSING SESSION SENSITIVE
ASTRO GUIDE FOR 10 & REVIEW
Astro Info :: Moon transits in Chitta and Swathi in Libra .
Tithi : Bahula Shashti ; Weekday:: Tuesday.
Individuals born in Scorpio and Pisces signs and in Pushyami, Anuradha and Uttarabhadra constellations may remain cautious in their transactions.
Nifty Range of Thursday and Friday(Combined High and Low of these Two days i.e., 22 and 23 January) may be regarded as the reference range for the next Three weeks and can be expected to be bullish above the High of this range and Bearish below the low of this range. Now the range is 8866 and 8727 and Hence further bullish above 8866 and Bearish below 8727 and neutral in between these levels.
Nifty had traded below 8727 during the last Two days and target of about 8600 opens up., Nifty has breached 8600 Hence Downside target reached.
Senstive time:: 10.15am; 12.00pm; 2.00pm;Nifty 8526 -135
Nifty opened with a down gap due to Delhi exit poll results and fell once again sharply in the closing hour to end with a loss of 135 points, recording Seventh successive Down day for markets. Stop loss for Nifty’s short positions may be maintained at 8775 (on close basis). Nifty spot is expected to encounter resistance at 8565, 8600 and find support at 8485, 8450 for Tuesday. While Global cues, Quarterly results and Funds flow are expected to broadly guide the market movement, based on the present market position, market is expected to trade in a zigzag manner with bearish bias and closing session could be sensitive. Further strong weekly support is seen around 8450.
Further, Delhi Election outcome would weigh heavily on the market sentiment till the declaration of results.
Trading strategy ::
Over all trend is Bearish and is getting into oversold zone. Nifty can be expected to find strong support around 8450. Hence fresh shorts between 8450 and 8500 might not be considered.
Hence , only intraday shorts if Nifty trades below Open level in the opening session / below ATP in the afternoon session may be considered with suitable stop loss.
Breakout / Break Down Levels::
Breakoutlevel is 8628 and Breakdown level 8494 for Nifty spot for Tuesday ., It is unlikely that both levels would be breached., 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.
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SENSEX TANKS 490 pts
Markets today slumped for the seventh straight day, its longest losing streak in 15 months, with Sensex losing over 490 points to end at about three-week low on exit polls showing that the BJP may not be able to form government in Delhi. Besides, the rupee depreciated against the dollar to over three-week low of 62.20 (intra-day) on sustained capital outflows which dampened market sentiments. The BSE Sensex, after opening lower at 28,566.50, continued to slide on selling pressure in bluechip companies, forcing the Sensex to touch a low of 28,183.32 before settling lower by 490.52, or 1.71 per cent, to close at 28,227.39. This is its weakest closing since January 16. As many as 24 stocks closed with losses, including L&T, GAIL, Cipla, SBI, M&M, Bharti Airtel, Tata Motors, Maruti Suzuki, ICICI Bank, TCS, Axis Bank, Hero MotoCorp, RIL, BHEL, HDFC Bank, ITC Ltd, Coal India, NTPC and HDFC Ltd. However, Dr Reddy, Bajaj Auto, Sun Pharma, ONGC, Wipro and Infosys were among the Sensex gainers. The 50-share NSE Nifty dipped below the psychological 8,600-mark by tumbling 134.70 points, or 1.56 per cent, to close at 8,526.35. Foreign funds continued to remain net sellers on domestic bourses which weighed on the sentiment and added to selling, equity brokers said. Disappointing corporate earnings and caution ahead of GDP data for December quarter also cast shadow on the trading sentiments, they said. Meanwhile, FPIs sold shares worth Rs 96.45 crore on last Friday, as per the provisional data. Among others, Tata Power fell by 2.44 per cent and Reliance Power closed 5.59 per cent lower on fresh round of selling pressure on fears that the new government in Delhi may again lower power tariffs. Mixed trend at other Asian markets and a weak opening at European markets also weighed on sentiments here.