WEEKLY ASTRO TECHNICAL GUIDE FOR NIFTY

HIGHLY VOLATILE MOVEMENTS….!!!

 

During the current week Moon would be transiting  from Mrigasira in Gemini to Aslesha in Cancer.

Sun transits in  Visakha    in Libra.

Mercury   transits  in  Swathi constellation  Libra .

Venus transits in   Visakha constellation in Libra.

Mars  transits in   Poorvashadha constellation in Sagittarius .  

Saturn transits in  Scorpio  in Visakha constellation and Cancer Navamsa.

Jupiter transits in  Cancer in Aslesha constellation in    Pisces  navamsa ..

Nifty’s monthly astro reference range was quite small i.e., 8365 and 8297 and Nifty can be considered bullish above 8365 and bearish below 8297 for the rest of the month with a target of 8525 on the upside or 8150 on the downside as initial targets. (Both targets possible in view of small reference range)
Further, current week is very eventful in view of the hard aspects among slow moving planets besides Mars Pluto conjunction and Sun Jupiter Square. Highly volaltile movements / huge swings can be expected and hence caution is expected both at higher levels and at lower levels too.  Bias is expected to be bearish, hence caution particularly at higher levels.

Nifty Outlook for Next Week :: (10.11.2014 to 14.11.2014) …  

NIFTY :: 8337 (+15) (Short term Bearishness below 8250….)

After Two weeks’ of smart rally Nifty moved in a small range (only Three trading sessions) and closed in the green. , In view of the narrow move last week, it could witness a huge upmove with wild swings once it breaks above or below the last week range. A directional move is possible during the week after last week’s narrow move. IIP numbers and WPI / CPI inflation numbers would be announced during the week which would influence the market. However, RBI’s indication that rate cut could further time could dampen the spirits. Fall of crude oil prices to a multi year low and consequent effect on inflation etc., would make a strong case for rate cut which would revive the economic cycle. Market seems to be having best of both worlds ie., Reforms from Government and  falling crude prices .  Improved corporate performance too would come in soon which is being discounted by the markets. Despite these positive factors, market is fully priced and stock picking is the only way to perform in the market. Next Big event is Budget and big bang reforms can be expected in the budget. A path breaking budget is being  expected.

Nifty is once again above all short term moving averages and  is infact at a new HIGH. However, in view of the over bought position, traders need to be vigilant and high degree of caution with proper risk management is necessary.

20DMA, 50DMA, 100DMA and 200 DMA are placed at about 8020, 8015, 7835 and 7215 respectively and would

act as supports / resistances.

Strong long term support would be around 7200 level and Medium term support is 7850. Short term support is at 8250 and Nifty would become weak only on a close below 8250.

Technical Levels ::

For the coming week, Nifty spot is expected to face

resistance at 8430,  8520, 8610 and find support at 8245, 8155, 8065.

Minor resistances may be found at 8375, 8405, 8425, 8450  and minor supports at 8300, 8270, 8250, and 8220.

For short term Nifty is bullish and would become bearish only if it closes below 8250 and could encounter resistance could encounter resistance around 8525 during the week.

Advice for Traders ::

Nifty’s uptrend continued for the Third week while the movements were very narrow last week. Current week can be expected to be eventful in view of IIP and inflation numbers which could move the market significantly. On the upside, Nifty is expected to encounter strong resistance between 8525 and 8600 and it would become weak  on  a close below 8250, In view of the smart upmove in the last Three weeks, only strong positive news can move the market up. Otherwise, it could get into consolidation or correction. Stock specific approach may be followed.