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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. |
