Further Bearishness Below 8000….. !!!

Nifty Outlook for Next Week 02.11.2015 to 06.11.2015

NIFTY :: 8066 (-- 229)

Nifty traded in a clear Bearish way and fell on all the Five trading sessions by about 3% (including the First day of the new Derivative series of November). Next week also, market would be driven by global cues as it will be discounting Bihar Election results.

20 DMA, 50DMA, 100DMA and 200 DMA are placed at about 8166, 8016, 8205 and 8351.  respectively and would act as supports / resistances. Nifty is trading  only above     the  50 DMA.

While Nifty continues to trade below   the  200 DMA and 50 DMA too is  below   200 DMA (Death  Cross) suggesting that the Long term Bearish  trend is   in    tact.

Technical Levels...

Bullish above 8150 with resistance at 8225, 8300, 8375

Bearish below 8000 with Supports at 7925, 7850, 7775.

Breakout level 8200 ; Breakdown level 7950.

Advice for Traders ::

Nifty has once again changed its Medium term with Nifty having closed below  8100. Nifty would face strong resistance   around 8100, above   which it will have real bullishness .

Weekly Open level is very important for the entire week.
Long  positions may be considered  as long as it maintains above the Last week’s High.

            

Planetary Position...

Moon would be transiting  from Punarvasu 3 rd Pada   in Gemini   to Poorvashadha 3rd  Pada in Leo.   

Sun transits in  Swathi 3 rd    Pada in Libra   to Swathi 4th   Pada in Libra.

Mercury   transits  in Chitta 4 th   Pada  to  . Chitta 2nd  Pada. .  

Venus transits in  in Uttara Phalguni 1 st  Pada  in Leo to Uttara Phalguni 2nd   Pada in Virgo.  .

Mars transits in   Leo in  Uttara 1 st  Pada.and UTtara 2^nd Pada in Virgo. ,

Saturn  transits in   Anuradha constellation in Scropio sign in 3^rd  Pada  and in Libra Navamsa .

Jupiter ,, transits in  Leo in  Poorva Phalguni 3 rd d  Pada in Libra   Navamsa .  

Rahu and Ketu  continue their transit in Virgo and Pisces  respectively.