|
Nifty - 5397.55 (-33.05)
Sensex - 17957.37
(-120.24)
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)
July 26th (........ ....... ......... ........ ......... ........ For Paid
Subscribers Only- Signal Strength Medium**)
July 27th (........ ....... ......... ........ .........
........ For Paid Subscribers Only - Signal Strength Medium**)
July 29th (........ .......
......... ........ ......... ........ For Paid Subscribers
Only - Signal Strength Strong***)
NOTE - This is preliminary analysis of the market which will
be updated everyday during Market Hours)
Technical Outlook 29th July
2010)
As mentioned yesterday, there is no change in the
technical setup as markets have closed almost flat. Nifty is close to an
important resistance of 5475-5490 & any decisive bullish breakout with
volumes can take Nifty to 5550-5600 in near term & 6000+ in coming weeks.
However, caution is advised as failure of Nifty to close above 5490 may invite
corrective decline since Nifty is already overbought with no. of negative
divergences & couple of opening gaps which need to be filled for healthy
state of market in near term. Nifty opened on a slightly positive note
with an opening gap of 7-10 points since most of the Asian markets were trading
in green. It remained range bound within a range of 20 points till 1240 hours
when profit booking halted the rise & Nifty came down sharply to touch an
intra day low of 5386 before closing at 5397, about 33 points below the previous
close.
As far as, extreme short term charts are concerned, Nifty is close
to an important support of 5360-5380 zone & any bearish breakout can wipe
off more than 100 points within a couple of days. On the other hand, if Nifty
finds support, it will face resistance at 5440 & 5480 in near term. In
longer term charts Nifty has a range of 5490 & 5210. Any decisive move
beyond these levels will decide the intermediate trend for short term.
Technically the present uptrend which started on 25th May is nearly over &
Nifty is ripe for corrective decline in near term. With Q1 results of most of
the important index based stocks already out, the chances of downward move are
much higher.
As far as bar reversal in Daily charts are concerned, stocks
like Aban Offshore, BHEL, Everonn, Karuturi Global, EIL, Varun Ind., Core
Projects, Opto Circuit, Areva T&D, SI Investment have given "Upward Bar
Reversal" while Reliance Ind., Cairn India, DLF Ltd., ONGC, REL Infra, Lupin,
Satyam, Resurgere, Educomp, Renuka Sugar etc. have given "Downward Bar
Reversal". Stocks like Geodesic,
Kalyani Steel, V Guard Ind., Varun Ind., Aban Offshore, Value Ind., Prajay Engg,
Viceroy Hotel, Asian Paints, Steel strips have shown
spurt during the day with unusually high volumes.
Sector wise, most of
the stocks like Geodesic, ARSS Infra, Aban Offshore, VIP Inds., IGL, Hexaware,
LIC Hous. Fin., Cummins India etc. were among the top gainers of the day to
close in positive territory whereas stocks like Patni Computer, MRPL, GIC
Housing, Shiv-Vani, Gabriel India, Reliance Inds., Hind Unilever, Andhra Bank
etc. attracted profit booking at higher levels & closed in red territory. As
far as, A/D data is concerned it was slightly in favor of bears in the ratio of
5:8 with 518 advances & 848 declines during the day.
In nutshell, Nifty is close to short term support of 5380-5360 &
any decisive bearish breakout can wipe off nearly 100 points of Nifty in coming
sessions. On the other hand, if Nifty finds support it can move up to 5440 &
5480 in extreme short term. In any case the short term uptrend which started at
4786 on 25th May is under pressure & a sizeable correction is due before any
significant upmove. The move below 5210 will be the first sign of trend reversal
in short term. The best strategy is to remain scrip & sector
specific as both bullish as well as bearish opportunities are available in short
term.
Astrological Outlook for the Week (26th
July 2010 - 30th July 2010)
Current Planetary Position
- Astrologically, in Transit, Sun (In Pushya
Constellation, ruled by inimical Saturn) is placed in Cancer. 2 Planets i.e.
Mercury (In Magha Constellation, ruled by Nuetral Ketu) and
Venus (In P.Phalguni Constellation, ruled by Venus herself) are in
Leo. 2 Planets i.e. Mars (in U.Phalguni Constellation ruled by
Friendly Sun) and Saturn (In Uttar phalguni Constellation, ruled
by inimical Sun) are placed in Virgo. Transiting Moon will be in Capricorn.
Retrograde & Debilitated Rahu and Retrograde
Pluto are placed in Sagittarius. Neptune is Placed in
Aquarius. Jupiter (In U. Bhadrapad Constellation, ruled by Neutral
Saturn) along with Uranus are placed in Pisces. Retrograde
and Debilitated Ketu is placed in Gemini. Moon will be
transiting through Capricorn, Aquarius and Pieces during this week. Uranus
got retrograde on 05th July. Mars entered Virgo on 20th July. Jupiter got
retrograde on 23rd July. Saturn will Oppose Uranus on 26th July. Mars will
oppose Uranus on 30th July and Saturn will conjunct Mars on 31st July.
Expected Weekly Movement -In
totality, keeping all the planetary configuration, bullish and bearish aspects
in mind, there are number of complex planetrary configurations which are likely
to effect the market. Overall market is expected to remain ........ ....... ......... ........ .........
........ For Paid Subscribers Only Investors may
please note that Saturn-Uranus opposition is capable of brining markets down by
5%-20% in coming Weeks. (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.However Investment buying may be
restricted.
World Markets - Astro-Technically
Crude Oil
Technically, After
declining sharply from $87 to $64, Crude Oil recovered to touch $80 and made
higher bottom at $71.09 and moved up further to touch an Intraweek high of
$76.48, before closing a $76.09. In this process, Crude has given upward bar
reversal in Weekly Charts. Crude Oil is likely to face Resistance at $80 and
Bullish Breakout with volumes can target 88-89 in coming days. On Bearish side,
decisive move below $71 can target $64 and $55 in coming weeks/Months (From
5T-120710). Astrologically, crude is likely to remain mildly weak
initially with downward jerk on 28th but likely to bounce back on 29th/ 30th
July.
GOLD
Technically, Gold had given bearish breakout
from "Rising Wedge" Pattern on 01st July, setting a bearish Target of
$1125-$1140 which is likely to be achieved soon. In the meanwhile, Gold is
taking pullback $1225 -$1240. If Gold is not able to close above these level, it
may be heading for $1125-$1140.in
coming weeks after taking pullback move (From 5T-120710). Astrologically,
there are mixed signals this week. Gold may remain subdued for 1-2 days but
likely to bounce back later in the week.
SILVER
Technically, Silver is
moving in a sideways pattern with support at $17.40 and resistance at $19.40.
Unless, Silver breaks these 2 levels, it will continue to remain range bound. In
Larger Time frame, Silver is moving is a Channel having support at $15.68 and
Resistance at $19.95 which will act as immediate support and resistance after
first breakout (From 5T-120710).Astrologically, similar toGold,
Silver looking mildly bearish for first 1-2 days but expected to
bounce back on 28th-30th July.
US Dollar/ Indian
Rupee ( USDINR)
Technically, as mentioned last week that INR
/USD continues to move in a "Falling Wedge" pattern since June 2009 having
resistance at INR45.60 and Support at INR44.00. Bullish Breakout from these
levels may target INR47.50-INR48.00/USD in coming Weeks. In Near Term, INR may face Resistance at 47.75 and
bullish crossover will set higher targets of 49.50 - 50.00 in coming weeks.
(From 5T-120710) Astrologically, Indian Rupee is expected to
remain volatile and range bound. It may follow 1 da down, 2 days up pattern in
this week.
US Markets
Technically, after giving breakout from
bearish "Rising Wedge" Pattern and remaining below the Rising Resistance line
this pattern both Dow Jones and NASDAQ declined sharply from 11258 to 9757 and
2535 to 2139 respectively. If Charts are any indication, Dow Jones is heading
for 8800 and 1850 respectively in coming weeks though pullback move to
10400-10600 is not ruled out. (From 5T-120710). Astrologically, Both
Indices may bounce back and may take Upward U-Turn on 20th July. However next
week may see some good decline on particular days like 26th or 29th July
2010. (From 5T-190710)
Analyzed by,
Rohit Dinani - 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. |
