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Bullish above 7855 ….. !!!        

Nifty Outlook for Week 21.12.2015 to 24.12.2015

NIFTY :: 7762 (+152)

Nifty traded with huge Bullishness till Thursday and fell on Friday and closed with a gain of about 2%.

Moon transits in Dhanishta 3 rd to Poorvabhadra 3 rd Pada between 16th December (afternoon) and 18 th December and the  range of these days  (7737 to 7853) can be considered to be the reference range for the next Three weeks and market can be considered to be Bullish above the high and Bearish below the Low of this period’s range.  

20 DMA, 50DMA, 100DMA and 200 DMA are placed at about 7795, 7955, 8033 and 8250.  respectively and would act as  resistances. Nifty is trading  below all   the Moving Averages.

While Nifty continues to trade below   the  200 DMA and 50 DMA too is  below   200 DMA (Death  Cross) suggesting that the Long term Bearish  trend is   in    tact.

Technical Levels ::

Bullish above 7840 with resistance at  7815, 7890,7950

Bearish below 7690 with Supports at 7615, 7540, 7475.

Breakout level : 7850 ; Breakdown level : 7625

Advice for Traders ::

Nifty would have become Bullish  for Short term if it would have closed even with minor positive bias on Friday. Since GST Bill is not likely to be cleared  in this winter session, it  is likely to have negative impact on the sentiment and the economy. Further, Mid year economic review was not strong. If Nifty is likely to cross 7855, it would be Bullish and on the other hand, if it is likely to breach 7720, it would be Bearish.

Weekly Open level is very important for the entire week.
Long  positions may be considered  as long as it maintains above
the Last week’s Close.

Planetary Position

During the current week Moon would be transiting  from Aswini 3 rd  Pada    in Aries to Mrigasira 1 st Pada in Tarurs.
Sun transits in   Moola 2nd   Pada in Sagittarius to Moola 3 rd  Pada  in Sagittarius.
Mercury transits in  Poorvashadha 3 rd in Sagittarius to Uttarashadha 1 st Pada in Sagittarius.

Venus transits in  in Visakha 2 nd    Pada  in Libra to Visakha 3 rd   Pada.

Mars transits in    Chitta 2 nd    Pada in Virgo to Chitta 3 rd   Pada in Libra.

Saturn  transits in   Anuradha constellation in Scropio sign in 4th  Pada  and in
Scorpio Navamsa .

Jupiter ,, transits in  Leo in  Uttara 1 st   Pada in  Sagittarius   Navamsa .  

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


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