Scrip Specific Movements Likely
NIFTY :: 8693 ( + 110)
Nifty traded in a wide range of 8727 to 8506 during last week and closed nearer to the High level of the at 8693 with a gain of 110 Points, a gain of about 1.35%.
Market had closed with a positive outlook with a gain of 1.35% i.e., 110 points . This week being last week of F&O week, scrip specific week is possible and Bullish scrips could go up further and Bearish scrips could go down further. While it is quite Bullish for Medium and Long term, short term could be quite volatile. Unless Nifty comes and closes above 8750, correction would continue to persist.
- 20 DMA, 50DMA, 100DMA and 200 DMA are placed at about 8692, 8705, 8505 and 8046 respectively and would act as Supports and Resistances as Nifty is trading above most of the Long term Moving Averages.
- Nifty continues to trade above the 200 DMA and 50 DMA too has come above 200 DMA (Golden Cross) suggesting that the Long term outlook is Bullish.
Breakout level : 8775, Breakdown level : 8600
Bullish above 8775 with Resistance at 8850, 8925, 9000
Bearish below 8625 with Supports at 8550, 8475,8400
- Moon would be transiting from Aslesha 3 rd Pada in Cancer to Hastha 2 nd Pada in Virgo.
- Sun transits from Swathi 1 st Pada to Swathi 2nd Pada in Libra.
- Mercury transits from Chitta 4 th Pada in Virgo to Swathi 2 nd Pada in Libra .
- Venus transits from Anuradha 3 rd Pada in Scorpio to Jyeshta 1 st Pada in Scorpio.
- Mars transits in Poorvashadha 4 th Pada to Uttarashadha 1 st Pada in Sagittarius .
- Saturn, in Direct motion , transits in Jyeshta 1 st Pada in Scropio sign and in Sagittarius Navamsa .
- Jupiter transits in Hastha 2 nd Pada and in Taurus Navamsa.
- Rahu and Ketu transit in Leo and Aquarius and in Leo and Aquarius Navamsas.
Moon transited from Aquarius and Pisces during October 13 th and 14 th and the range that is established (8682 to 8541) would be crucial for the next Three weeks and It would become further Bullish if it crosses the High(8682) then the target would be 8825 and 8970 and Bearish if it crosses the Low of the range (8541) then the target would be 8400 and 8260. Asmentioned above, it crossed the lower range on Monday(upto 8506)and crossed the High too on Tuesday itself and closes near the High for the week at 8693 and turned Bullish for the month.
Tithi ::Aswayuja Bahula Navami
Persons born in Krittika, Uttara and Uttarashadha constellations and those born in Leo and Sagittarius are advised to be alert in their dealings.
Sensitive / Trend change Timings for the day :: 10.50AM; 3.10PM;
Likely Intraday Trend...
On the basis of planetary position and aspects amongst planets, Market is expected to open steady Subdued and remain so upto bout 11AM and recover thereafter upto about 2 PM and remain subdued thereafter.
Astro Technical Trading Strategy...
After 11 AM, if Nifty fut trades above the Open Price / Average Traded Price (ATP), Long positions can be taken with suitable Stop Loss and such positions can be closed around 2 PM.
Resistance : 8735, 8770 Support : 8655, 8620