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Nifty - 5101.50 (-22.50)
Sensex - 17052.54
(-50.06)
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)
March 08th (** ........
....... ......... ........ ......... ........ For Paid Subscribers Only-
Signal Strength
Medium**)
March 10th
(** ........ ....... ......... ........
......... ........ For Paid Subscribers Only - Signal Strength Medium**)
March 12th (** ........
....... ......... ........ ......... ........ For Paid Subscribers Only
Signal Strength
Medium**)
Technical Outlook (10th March
2010)
As mentioned yesterday, Nifty is nearing the target of
5175-5200 which was established after Nifty gave breakout from a bullish
"Ascending Triangle" pattern but it has been moving up while maintaining the
negative divergences in momentum oscillators charts which is likely to bring
down Nifty to 4995-5000. On the other hand, decisive close above 5325 will
change the short term trend from down to up. " Nifty opened with a
negative gap of 8-10 points since most of the US & Asian markets were
marginally negative. Nifty remained range bound within a tight range of 25
points almost throughout the day with some anxious moments in buying &
selling & towards the close it gave a mildly bearish breakout in intra day
charts. If the global markets open weak on 10th March, there is a possibility
that Nifty may lose another 40-50 points in few hours. Nifty touched an intra
day low of 5094 before closing at 5101, about 22 points below the previous
close.
As far as, extreme short term charts are concerned, Nifty has made
a small bearish pattern with support at 5100 & Nifty can lose 40-50 points
on decisive breakdown from this support level. Any close above 5150 can negate
the short term bearish outlook of Nifty in near term. More stocks are in favor
of corrective decline in coming sessions.
As far as bar reversal in Daily charts are concerned, stocks like
ICICI Bank, Infosys, BOB, Welspun India, Escorts, Exide Ind., Sintex Ind., Tata
Elexi, Piramal Health, Petronet have given "Upward Bar Reversal" while L&T,
ITC, Bombay Dyeing, Siemens, Stride Acrolab, JK Tyres, Ajmera Realty, BOI,
Ambuja Cement, Fortis Health etc. have given "Downward Bar Reversal". Stocks
like House of Pearl Fashion, Hanung
Toys, Raj TV, Zylog System, Prithvi Info., Valecha Engg., OCL Iron, Whirlpool,
Zydus Wellness, Kale Consultants have shown spurt
during the day with unusually high volumes.
Sector wise, most of the
stocks like Hanung Toys, Raj TV, Zydus Well, Escorts, Jubilant Food, Everready,
JKIL, Hitachi Home, Shree Ram Transport, Glodyne, Anant Raj etc. were among the
top gainers of the day to close in positive territory whereas stocks like Bank
of Rajasthan, Zicom , Emami Ltd., NMDC, Shree Ashta, Purvankara, Syncom, STC
India, India Cement, Hind. Copper, Godrej Inds. 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 2:5 with 376 advances & 951 declines
during the day.
In nutshell, Nifty is close to an important support of 5100 of Nifty in
a bearish pattern formed over last 4 days in intra day charts. Bearish breakout
can wipe off 100 points of Nifty with minor hurdle at 5065. The bearish outlook
will get negated only if Nifty moves & stays above 5150 for a while.
The best strategy should be to book profit in all the overbought stocks
which have negative divergences also in their hourly charts.Very few select
stocks like Everready, S Kumars' etc. have given bullish indications in EST
charts.
Astrological Outlook for the Week (08th
March - 12th March 2010)
Current Planetary Position -
Astrologically, in Transit, 4 Planets i.e. Sun (In P.Bhadrapad
Constellation, ruled by friendly Jupiter ), Mercury (In
Shatbhisha Constellation, ruled by Neutral Rahu), Jupiter (In
Shatbhisha Constellation, ruled by Neutral Rahu) and Neptune are
placed in Aquarius. Retrograde & Debilitated Rahu and
Pluto are placed in Sagittarius. Exalted Venus (In
U.Bhadrapad Constellation, ruled by Friendly Saturn) and 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. Retrograde
Saturn (In Uttarphalguni Constellation, ruled by inimical Sun) is placed
in Virgo. Transiting Moon is placed in Scorpio and it will be transiting through
Scorpio, Saggitarius and Capricorn during this week. Few important events
of recent days are that 4 planets i.e. Mars, Moon, Rahu and Ketu are in
debilitation and 4 Planets i.e. Mars, Saturn, Rahu and Ketu are retrograde as on
08th March 2010. Debilitated & Retrograde Mars will turn direct on 10th
March. Sun will enter Pisces on 14th March 2010 .
Expected Weekly Movement -In totality, keeping all
the planetary configuration, bullish and bearish aspects in mind, this week is
expected to be ........ ....... .........
........ ......... ........ 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 ........ ....... ......... ........ .........
........ For Paid Subscribers Only may give
good profit during the Week.
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. Crude took support around $70/- and bounced back on
expected lines. Now Crude is likely to face resistance @ $83-$84 and bullish
Breakout can give an up move of another $12-$15 in coming weeks with hurdle at
$88-$90.On bearish side declisive close below $69 can target $55 in coming
months . Astrologically, Crude may decline initially during mid-week but
Short Term scenario is looking bullish. Crude can start upward move anytime from
this week for next 3-4 weeks in totality despite some corrective Declines
within this period.
.
GOLD
Technically, As mentioned last
week, Gold is mildly bullish as it moved out of a "Declining Wedge" pattern with
support at $1040 and resistance at $1131 and $1163. Gold can touch $1200 if it
manages to give breakout above the Resistance Levels mentioned above.
Astrologically, this week, Gold is likely to see 2 way movement. Middle of
the week looks volatile with recovery towards the close of the week. Gold is
preparing for corrective decline which may last for 3-4 weeks till early April.
SILVER
Technically, had given bearish breakout from a
"Rising Wedge" Pattern setting a target of $14.75-$14.80 which was achieved
perfectly and Silver bounced back from this support zone. Silver is in minor up
trend and likely to face resistance @ $18.30. Silver is slightly overbought
after rising from $14.65 to $17.50 in last few days and ripe for minor decline
however charts favour further rise and decline may take place next week.
Astrologically, despite some recovery during this week, Silver is
preparing for decline of 3- weeks which may last till first week of April 2010.
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. On the other had, decisive move below 45
may wipe off $1.00-1.25 in near future. . Astrologically, this
week is likely to be highly volatile with Dollar turning strong against Indian
Rupee in early next week followed by weakness in the second half of the Week.
Despite short term fluctuations, Dollar may remain strong for next 3-4 weeks.
US
Markets
Technically, Dow Jones after declining
sharply from 10680 to 979 (885 Points), DJI has been taking pullback move and it
can touch the bottom line of the bearish "Rising wedge" Pattern which is 10640
at present. The Bearish outlook of DJI will get negated if DJI moves and stays
above the Rising Trend line which is rising at the rate of 17-18 points per day.
Similarly, NASDAQ, after sharp decline from 2326 to 2100 (minus 226 Points) is
taking a pullback till bottom of the Rising Trend Line.
Astrologically, this week may open strong followed by decline on
Tuesday and Friday, however Market may recover from Intraday Lows of Friday.
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. |
