Market over sold  and set to recover in general .... !!!        

Nifty Outlook for Week 15.02.2016 to 19.02.2016

NIFTY :: 6981(--509)

During the Last week, Moon transited in Aquarius and Pisces during 9th February to 12 th February and this is a sensitive period for market movement. Hence, Nifty’s range during this period holds as a reference for the next Three Weeks. During that period, Nifty moved between 7323 to 6869 ., range of 454 points and closed at 6981. During the current week, Nifty, if it breaches 6869, it becomes further Bearish and on the other if it crosses 7323, it becomes further bullish and if it is to remain with in this range, it is likely to consolidate.
Further, in view of the forthcoming Budget , market might consolidate and move the higher side.

Nifty experienced one of the worst weeks in the last Six year and fell by more than 6%. It was mainly because of the declaration of lesser earnings and also the global cues.

20 DMA, 50DMA, 100DMA and 200 DMA are placed at about 7361, 7719, 7800 and 8031.  respectively and would act as  resistances as. 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 7050 with resistance at  7125, 7200, 7275

Bearish below 6910 with Supports at 6840, 6760, 6700

Breakout level : 7200, Breakdown level : 6825

Advice for Traders ::
Nifty had come out of the tight range last week but it has come the other way.  Range of Last  week is important for it to break. Low of last week is not to be broken if it  is to sustain.

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

Planetary Position

- Moon would be transiting from  Krittika 1 st  Pada    in Aries   to Punarvasu 3 rd   Pada in Gemini.  

- Sun transits in   Dhanishta 3 rd   Pada in Aquarius to Dhanishta 4 th   Pada  in Aquarius.

- Mercury transits in  Uttarashadha 4 th   Pada in Capricorn   to Sravana 1St   Pada in Capricorn.

- Venus transits in  in U Shadha 3rd Pada    to  Uttarashadha 4 th Pada in Capricorn.

- Mars transits in   Visakha 3 rd    Pada in Libra.

- Saturn  transits in  Jyeshta 2 nd Pada in Scropio sign and in Capricorn Navamsa.

- Jupiter , gets into Retrograde motion and transits in  Leo in  Uttara 1 st   Pada and Pubba 4 th Pada in  Leo and Sagittarius / Scorpio    Navamsa.

- Rahu and Ketu transit in Leo and Aquarius.


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