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* . Short Term Technical Analysis of Indian Stocks Market
*. Astro-Technical Views of NIFTY/ Sensex
*. Weekly Analysis of Gold/ Oil/ Silver/ Indian Rupee/ Dow Jones/ Nasdaq
*. Astro-Technical Turning Dates for NSE/ BSE during the Week with Strength
*. Technical Analysis of few Bullish / Bearish Stocks of NSE/ BSE
*. Nifty Futures - Intraday/ BTST/ STBT / Call / Put

Indian Stock Market

Date - 08th February 2010

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Nifty - 4718.65 (-126.70)
Sensex - 15790.93 (-434.02)

Astro-Turning Dates (+/- 1 Day)* -

(This is preliminary analysis of the market which will be updated everyday during Market Hours. Effect can start plus/minus few hours)

Feb 08th  (** ........ ....... ......... ........ ......... ........ For Paid Subscribers Only- Signal Strength Medium**)
Feb 10th   (** ........ ....... ......... ........ ......... ........ For Paid Subscribers Only -   Signal Strength Medium**)
Feb 11th  (** ........ ....... ......... ........ ......... ........ For Paid Subscribers Only   Signal Strength Medium**)
 

Technical Outlook (08th February 2010)
 


 

As mentioned yesterday, Nifty had given bearish breakout on 27th Jan from a "Rising Wedge" pattern having support at 5000 & setting a target of 4200-4300 which is likely to be achieved in next 16 weeks. During its pullback move Nifty will face strong resistance around 5050 & 5275 where heavy profit booking can be expected. Any significant change in policies or tax structure can shake this levels to some extent but by & large market appears for next few weeks.  " Nifty opened with a huge negative gap of nearly 120 points as all the global markets were down by 2%-3%. After a minor recovery to 4763, Nifty started drifting downward gradually & touched an intra day low of 4692 before a technical recovery to 4750 & finally closing at 4718, about 126 points below the previous close.

As far as, extreme short term charts are concerned, Nifty had given a bearish breakout from a "Triple Top" kind of a pattern of last 6 trading sessions having support at 4830. It was mentioned on 4th Feb that decisive close below 4825 can wipe off 120-125 points in coming sessions. it may not be out of place to mention that after declining from 4295 to 4765, Nifty had taken technical recovery in "Flag" formation & Nifty gave bearish breakout from this pattern potentially threatening for a target of 4300 in coming weeks. However, this target has no. of hurdles in between before this targets are achieved. On the bullish side, Nifty may attempt to touch the lower level of the "Flag" around 4855 before resuming its downward journey. Close above 4950 may negate the bearish outlook temporarily.

As for as bar reversal in Daily charts are concerned, stocks like IFCI, Lupin, Mphasis, Tata Power, Prakash Ind., Dabur, IP Gas, Gammon Infra., Bombay Rayon and Dishman have given "Upward Bar Reversal" while Shree AshtaVinayak etc. have given "Downward Bar Reversal". Stocks like HBL Power, DCM Ltd., Sakthi sugar, INOX leisure, Jai Corp., Hexaware, Uttam steel, Binani Steel, ICSA, HDIL have declined during the day with unusually high volumes.

Sector wise, most of the stocks like PVP, UBL, Torrent Pharma, Mphasis, GNFC, CESC, JP Power, Prakash Inds. etc. were among the top gainers of the day to close in positive territory whereas stocks like Jai Corp., Shree Ashta, ABG Shipping, Inox Leisure, Bharti Shipyard, R Media, NFL, Bombay Dyeing, HDIL etc. attracted profit booking at higher levels & closed in red territory. As far as, A/D data is concerned it was in favor of bears in the ratio of 1:10 with 128 advances & 1199 declines during the day.

In nutshell, Nifty is heading towards the projected target of 4200-4300 & Nifty has already given breakout from bearish "Flag" pattern which can take it down to 4300. The only relief for bulls is the pre budget rally although which looks unlikely in view of the various financial parameters which may be desired for a positive budget. If market continues to drifty lower till budget than a technical rally can be expected immediately after the budget.  The best strategy should be to buy select highly oversold stocks for quick recovery in next 1-3 days. Such technical rally can be used to liquidate short term long positions to re-enter at lower levels.

Astrological Outlook for the Week (08th February - 12th February 2009)

Current Planetary Position  -  Astrologically, in Transit, Sun (In Shravan Constellation, ruled by Friendly Moon) and Mercury (In Uttarshada Constellation, ruled by Friendly Sun) are placed in Capricorn. Retrograde & Debilitated Rahu and Pluto are placed in Sagittarius. Jupiter (Direct) (In Shatbhisha Constellation ruled by Neutral Rahu), Venus (In Dhanishta Constellation, ruled by Neutral Mars) along with transiting Neptune are placed in Aquarius.Uranus is Placed in Pisces. Retrograde and Debilitated Ketu is placed in Gemini. Debilitated and Retrograde Mars (in Pushya Constellation ruled by Neutral Saturn) is placed in Cancer. Moon is Transiting through Scorpio. Retrograde Saturn (In Hasta Constellation, ruled by inimical Moon) is placed in Virgo. Moon will be transiting through Scorpio, Saggitarius and Capricorn  during this week. Few important events of recent days are that 4 planets i.e. Moon, Mars, Rahu and Ketu are in debilitation and 4 Planets i.e. Mars, Saturn, Rahu and Ketu are retrograde as on 08th February 2010. Venus entered Aquarius and Mercury entered Capricorn on 06th February. Sun will enter Aquarius on 13th February 2010.

Expected Weekly Movement -In totality, keeping all the planetary configuration, bullish and bearish aspects in mind, it appears this week will also have lot of volatility. There are some strong Negative as well as Strong Positive aspects falling on 08th and 09th ........ ....... ......... ........ ......... ........ For Paid Subscribers Only (This is preliminary analysis of the market which will be updated everyday for day and swing traders through live market updates and trading calls. Note- Most of the astrological aspects work plus/minus few hours so it is better to follow live updates before entering into any positional trades) 

Trading Strategy - Keeping in mind the different Astrological Turning Dates during the week, For conservative Traders "Light B........ ....... ......... ........ ......... ........ For Paid Subscribers Only to book profit on Thursday (11th Feb 2010). Markets are closed on 12th due to festival of Mahashivratri.

World Markets - Astro-Technically


Crude Oil
Technically, there is no change in the Technical Set-Up of Crude Oil. It was mentioned last week that " Crude has been moving in a bearish "Rising Channel" pattern with Support around $71.25 and $69.50. Bearish Breakout from this pattern can take Crude Down to $55/Brl in coming months. On the other hand if Crude take support between $69 and $71, further rise to next resistance of $81-$82 may be expected. Crude has target of $88-$90 which is to be achieved in coming weeks which will get negated if Crude moves below $70/- decisively". Astrologically, Crude is looking bullish during this week particularly with occassional declines. Long positions can be initiated on every decline with SL for next 2-3 Weeks.
.
GOLD
Technically, Gold has made Lower Top at $1163 and made a "Double Bottom" pattern at $1075 which was tested earlier also. Decisive bearish breakout below $1075 will not only confirm the Lower Tops & Lower Bottoms but also pave way for target of  $950-$975 in coming weeks (From 5T-010210).  Astrologically, although Gold in bearish in coming weeks (Months), but this week may see some Technical Recovery as Gold has declined sharply from $1126 to $1046 in last 3 Days. 09th and 12th Feb in this week may be mildly positive.

SILVER 
Technically, Silver had given bearish breakout from a "Rising Wedge" Pattern setting a target of $14.75-$14.80 which is likely to be achieved in coming weeks. After a pullback move from $16.76 to $18.92, Silver gave bearish breakout from it's support and it is proceeding towards it's target of $14.75-$14.80 (From 5T-010210). Astrologically, although Silver is bearish in coming weeks (Months), but this week may see some Technical Recovery as Silver has declined sharply from $16.95 to $14.65 in last 3 Days. This week looks favourable to bulls.

US Dollar/ Indian Rupee ( USDINR)
Technically, INR /USD continues to move in a "Falling Wedge" pattern since last 10-11 months as far as charts of larger frame are concerned. This pattern has strong Support at INR45/Dollar and Resistance at INR46.95. Since pattern in bullish, close above INR46.95 may target INR51+ in coming weeks. (From 5T-010210). Astrologically, Dollar is going to turn stronger in coming weeks ( From mid-Feb to end of March) though Intraweek movement are likely to be volatile in favor of US Dollars.

US Markets  
Technically, As stated on 18th Jan "Dow Jones has been moving in a "Rising wedge" Pattern which is bearish in nature and bearish breakout below 10290 will wipe off more than 1000 points in coming weeks. DJI has already given bearish breakout and lost more than 885 Points from it's recent Top of 10680 made on 19th Jan. Similarly NASDAQ has lost more than 226 points in last 17-18 trading sessions.Both Dow Jones and NASDAQ are preparing for a Downward move of 6 Weeks till 01st/ 02nd week of March 2010. (From 180110). Astrologically, It is going to be volatile week but likely to favour bears only despite some recovery on 09th and early 12th Feb.
 

Analyzed by,
Rohit Dinani - Jyotirvid, CFTe, IFTA(USA), Jyotish Shastracharya (AIFAS)
Gulshan Kumar -  Dip.T.A, MSTA(London), CFTe, IFTA (USA), Jyotish Shastracharya (AIFAS)
Website: www.5trades.com / Email : 5trades@gmail.com / Tel: 09999491935

Disclaimer : The Technical and/or Astrological analysis provided in this newsletter is for the purpose of education and guidance of investors and traders. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. Any information, analysis, recommendations, opinions and suggestions are given with the understanding that readers acting on this information assume all kind of risks involved in trading and investment. Under no circumstances, Analysts / Astrologers will  be liable for any loss, profit, special or consequential damages that result from the use of the contents in this newsletter. Trading in stocks is a high risk activity which can wipe off more than your entire capital. Trade at your own risk only with adequate research and judgment.
Disclosure: None of the analysts/astrologers have any position in any of the recommended stocks.