Budget
Holds the Key
Outlook
for the Week 29.01.2018 to02.02.2018
NIFTY
:: 11070 (+175)
Nifty
traded in a range of 10881 to 11110 during last week and closed
nearer to the High of the range for the week at 11070 with a Gain of
175 Points (about 1.61%). It had closed with a Positive outlook. On
Wednesday made a new 52 week high and made a positive close for the 8
th week in a row. Since Budget day is quite Close, Market would
factor in the possible outcomes in the market before Budget. Union
Budget would be presented in the Parliament next week and it would
decide the future course of the market.
- Market
is quite Bulliish for Short, Medium and Long term too. However, Short
term would become Bearish if Nifty comes Down and closes below
10850
- 20
DMA, 50DMA, 100DMA and 200 DMA are placed at about 10726, 10492,
10317 and 9984 respectively and would act as Supports and
Resistances.
- Nifty
continues to trade above the 200 DMA and also above the 50 DMA and 50
DMA has come above 200 DMA (Golden Cross has come more than about a
Year ago) suggesting that the Long term outlook has become Bullish
and Nifty continues to trade above all the moving averages and hence
can be considered as Bullish.
Technical
Levels...
Breakout
level : 11200 Breakdown level : 10850.
Bullish
above 11150 with Resistance at 11225, 11300,11375
Bearish
below 11000 with Supports at 10925, 10850,10775
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.
---------------------------------------------
- Moon
would be transiting from Aardra 2 nd Pada in Gemini to Poorva
Phalguni 1 st Pada in Leo.
- Sun
transits from Sravana 2 nd to 3 rd Pada in Capricorn.
- Mercury
transits from Uttarashadha 2 nd to Uttarashadha 3 rd Pada in
Capricorn.
- Venus
transits from Sravana 3 rd Pada in to Dhanishta 1 st Pada in
Capricon.
- Mars
transits in Anuradha 2 nd Pada in Scorpio to Anuradha 3 rd Pada in
Scopio
- Saturn
transits in Moola 4 th in Sagittarius and moves in Cancer Navamsa.
- Jupiter
transits in Visakha 3 rd Pada in Libra and moves in Gemini Navamsa.
- Rahu
and Ketu move to Cancer and Capricorn Rasis and in Capricorn and
Cancer Navamsas.
---------------------------------------------
Second
Half Better (for Monday)
Tithi
:: Magha Sukla Trayodasi
Nakshatra
::Aardra
Persons
born in Aslesha, Jyeshta and Revathi and those born in Cancer
and Scorpio are advised to be alert in their dealings.
Sensitive / Trend change Timings : 12.23
Likely
Intraday Trend...
On
the basis of planetary position and aspects amongst planets, Market
is expected to Open Better and remain So upto 9.45 AM and remain
Subdued thereafter upto 1.00 PM and remain Better thereafter till
about 3.05 AM and could remain Subdued towards Close of the day.
If Nifty fut trades
below ATP by about 9.45 AM, Long Positions can be taken with suitable
SL and such positions can be closed by about 1.00 PM. IF Nifty fut
trades above ATP by about 1.15 PM, Long Positions can be taken with
suitable SL and such positions can be closed by about 3.00 PM.
Technical
Levels...
Resistance
: 11110,11145 Support : 11030,11000
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