Outlook for Next Week 07.08.2017 to 11.08.2017
Correction Due ....Midweek due for correction
NIFTY :: 10066 (+51)
Nifty traded in a range of 9988 to 10138 during last week and closed nearer to the middle of the range for the week at 10066 with a Gain of 51 Points, a gain of about 0.5%. Market had closed with a positive outlook. Market has closed in the green for 5 weeks and is due for a correction.
- The short term trend is Bullish and It is Bullish both for Medium and Long term, Short term could become Bearish if Nifty comes and closes below 9950.
- 20 DMA, 50DMA, 100DMA and 200 DMA are placed at about 9946, 9746, 9497 and 8971 respectively and would act as Supports and Resistances as Nifty is trading above all the Moving averages.
- Nifty continues to trade above the 200 DMA and also the 50 DMA and 50 DMA too has come above 200 DMA suggesting that the Long term outlook has become Bullish and Nifty continues to trade above all the moving Averages and hence can be considered Bullish for Long term too.
Breakout level : 10150 Breakdown level : 9950
Bearish below 9990 with Supports at 9915, 9840.
Advice for Traders ::
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.
- Sun transits from Aslesha 2 nd Pada in Cancer to Aslesha 4 th Pada in Cancer .
- Mercury transits from Pubba 1 st Pada to Poorva Phalguni 2 nd Pada in Leo.
- Venus transits from Aardra 3 rd Pada in Gemini to Aardra 4 th Pada in Gemini.
- Mars , being debilitated, transits in Aslesha 1 st Pada in Cancer.
- Saturn moves in Retro motion in Jyeshta 4 th Pada in Scorpio and also moves in Pisces Navamsa.
- Jupiter transits in Chitta 1 st Pada in Virgo and in Leo Navamsa.
- Rahu and Ketu transit in Leo and Aquarius and in Aries and Libra Navamsas,
During the week , Market would transit in Aquarius and Pisces between Wednesday and Friday and would make a range beyond which it would make a new High and if it breaches the Low next week, it would make a New Low.
Closing Session Better (for Monday)
Tithi ::Sraavana Sukla Pournima
Nakshatra :: Sravana
Persons born in Punarvasu , Visakha and Poorvabhaadra and those born in Aquarius and Gemini are advised to be alert in their dealings.
Sensitive / Trend change Timings : 1.45PM; 2.40PM:
On the basis of planetary position and aspects amongst planets, Market is expected to open Steady and remain so upto about 11.15 AM and remain Subdued thereafter till about 1.30PM and remain Steady / Better till about close of the day.
Astro Technical Trading Strategy....
If Nifty Fut. Trades below the ATP level by about 11.30AM , Short Positions can be taken with suitable SL, and such positions can be closed by about 1.20AM. If Nifty fut trades above the ATP by about 1.30PM, Long positions can be taken with suitable SL and to be closed by about end of the day.
Resistance : 10105, 10140 Support : 10025, 9990