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WEEKLY ASTRO TECHNICAL GUIDE FOR NIFTY

PULLBACK IN THE OFFING


During the current week Moon would be transiting  from  Rohini In Taurus  to Aslesha in Cancer. .
.
Sun transits in Mrigasira in Taurus and Gemini.

Mercury transits in Rohini.

Venus transits in  Aslesha 3rd and 4th  Pada.

Mars transits in   Mrigasira in 2nd pada  and Mrigasira 3rd  Pada,

Saturn transits in   Anuradha constellation in Scropio sign in 1st Pada  and in Leo Navamsa and remains in retrograde motion from 14th March to 2nd August, 2015.

Jupiter ,, transits in  Cancer in Aslesha constellation in    Aquarius  Navamsa .

Rahu and Ketu continue their transit in Virgo and Pisces respectively.

Outlook for 15 to 20 JUNE 2015)

NIFTY :: 7979 (-115)

(Oversold …  Technical Bounce  …)
Nifty lost about 1.5% last week due to global cues. Market needs to trade above the last weeks high  to confirm this  pattern.
20DMA, 50DMA, 100DMA and 200 DMA are placed at about 8251, 8594, 8375 and 8376 respectively and would
act as supports / resistances. Nifty is trading  below all  the  average , particularly below 100 DMA, which is a matter of concern.
While Nifty continues to trade below the  200 DMA and 50 DMA too is above 200 DMA (Golden Cross) suggesting that the Bullish trend is in tact.

Technical Levels ::
For the coming week, Nifty spot is expected to be Bullish above 8200 with
resistance at 8280, 8360, 8435, 8525 and is expected to Bearish below 7900 with Supports at 7825, 7745, 7650.

Nifty could not hold at higher levels / pull back levels and fell sharply on Thurs /  Friday and  being last week of Derivative expiry  is close to strong support level of about 7900 .
Breakout level for the week is 8200,  and break down level for the week is 7890.

Advice for Traders ::
However, While the long term trend is bullish, Medium term would once again turn bullish only if Nifty is able sustain above 8500. If Nifty / scrips sustain above Friday’s high level, Friday’s low level could offer strong support for short term for a reasonable pullback.

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