MID SESSION BETTER

ASTRO GUIDE FOR 12 & REVIEW

Moon transits in  Anuradha     in  Scorpio.  

Tithi : Sapthami     ; Weekday:: Thursday. 

Individuals born in Sagittarius and Aries  signs and in Bharani, Pubba and Poorvashadha    constellations    may remain cautious in their transactions.

 

Senstive time:: 12.40pm; 2.30pm;

Nifty                               8700  -12


Nifty traded in a choppy manner and closed with minor bearish bias for the day. However, it traded in a relatively narrow range within the previous day’s range. Nifty would turn bullish once again only if it closes above 8850. Nifty spot is expected to encounter resistance at 8740, 8780 and find support at 8660, 8625 for Thursday.   While Global cues, Quarterly results   and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to  witness choppy movement with better midsession and could encounter selling pressure towards close.

Trading strategy :: 

Nifty made an inside bar within the range of the previous day. It is likely that , on Thursday, it would break previous days’ high or low which would determine trend till Friday. Hence, if it trades above the Open, longs can be considered with Wednesday’s low for a target above Wednesday’s high and vice versa.

Breakout / Break Down Levels::

Breakoutlevel  is 8774 and Breakdown level 8668 for Nifty spot for Thursday .,  It is unlikely that both levels would be breached (under normal circumstances)., If Breakout level is breached., It is a Buy on Decline with Low as Stop loss and if Breakdown level is breached, It is a sell on rise with high as stop loss. Alternatively, if Nifty is unable to cross the Breakout level, short positions, can be considered with Breakout as stop loss and unable to breach the breakdown level, long positions can be considered with Breakdown level as stop loss.

Disclaimer ::  Above analysis  is based on planetary movements and is intended for guidance / educative purpose and traders are advised to be highly cautious with proper risk management mechanism as Trading is highly risky and not trade only based on the analysis given above.

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SENSEX @ 1 MONTH LOW

The downtrend in bourses continued for the third straight session with benchmark Sensex today slipping about 51 points to fresh one-month lows while the Nifty index ended below the key 8,700-mark on selling in key frontline heavyweights amid sluggish Asian cues. Metal, Oil&gas, Healthcare, Capital Goods and Technology stocks mostly witnessed pressure. In the previous two days, Indian markets saw sharp sell-off following fears of an imminent rise in US interest rates. The bellwether 30-share Sensex has now lost 789.78 points in straight three days. The Sensex opened higher at 28,725.75 and hovered between 28,843.23 and 28,608.20 before settling at 28,659.20, showing a loss of 50.70 points, or 0.18 per cent, over its last close. This is its lowest close since February 11. Similarly, the NSE Nifty index lost 12.10 points, or 0.14 per cent, to end below the 8,700 mark at 8,699.95. Taking a breather after recent heavy bout of selling, market rebounded with modest gains and traded mostly in a tight range in early part of the day but the upward momentum fizzled out towards the fag-end. "Market opened higher on the back of positive news flow on Current account deficit which came in lower than expectations of the street. However, positive opening failed to hold initial gains due to weakness in Asian markets and weaker trend of Indian currency against Dollar," said Shrikant Chouhan, Head- Technical Research, Kotak Securities. Investors are turning a bit more cautious at this juncture and paring long positions due to uncertainty in global markets and caution ahead of Fed meet next week, a floor trader said. Hindalco was the top loser among Sensex and Nifty stocks by slumping over 5.5 per cent after its promoter Kumar Mangalam Birla was summoned as accused by a special court in coal scam case. Pharma stocks, which have been outperforming the benchmark indices in the past few trading sessions, also came under selling pressure. Cipla and Sun Pharma fell. Elsewhere, a slew of poor-than-expected Chinese economic data kept most other Asian equities under pressure with key indices from Hong Kong, Singapore, Korea and Taiwan falling 0.14 per cent to 0.75 per cent, while China and Japan gained marginally.