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* . Short Term Astro-Technical Analysis of Indian Stocks Market
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*. Weekly Analysis of Gold/ Silver/ Crude/Copper/Gas/USDINR/S&P500
*. Astrological  Turning Dates for important securities.
 

Stock & Commodity Markets

Date - 09th May 2016

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Astro - Technical Newsletter


For Guidance to Short Term Traders Only
 

 


Nifty - 7733.45 (-02.05)
BSE Sensex - 25228.50 (-33.71)

Astro-Turning Dates (+/- 1 Day)**
(Note - This is preliminary analysis of the market which will be updated everyday during Market Hours. Effect can start plus/minus few hours)

May 09th/10th  - (Recovery from Lower Levels)   -  Signal Strength **
)
May 11th/12th - (Mixed & Volatile with slightly positive Bias
- Signal Strength **)
May 13th
- ( Profit Booking at Higher Levels, IT Sector may defy Trend - Signal Strength ***)
Summary - Indian Markets are expected to be volatile but positive between 10th till 17th (Both +/- 1 day). S&P500 and Dow Jones may also follow the same Trend. Both Gold and Silver may weaken after 10th May (+/- 1 day), though period from 15th till 29th May looks more weak. Crude looks volatile but chances of recovery indicated. Copper looks positive for few days. USDINR and Natural Gas are still volatile.
 

Technical Outlook for 09th May 2016

 


 

As mentioned in our last Newsletter Nifty, which gave bearish breakdown below 7800 achieved the first target of 7720 & heading towards next target of 7665 which may be achieved soon. Nifty is oversold & there is possibility that it may recover to 7800 once again after the bearish targets are achieved. As far as, Bank Nifty is concerned many stocks are still bearish which can take Bank Nifty to 16,000-16,100 in coming days. Nifty Opened at 7717 with a negative gap of 19-20 points as most of the US markets were in red & Asian markets were also flat to negative in morning session. Nifty went down to touch an intra day low of 7678 within few minutes of opening & started moving up slowly & gradually towards 7738 (a rise of 60 points from day's low) on low range volatility with alternate bouts of buying & selling before it closed at 7733.45 about 2.05 points below the previous close.

As far as, daily charts are concerned, Nifty touched a recent high of 7991 making a kind of "Double Top" pattern in extreme short term charts with support at 7820 which was violated on 3rd May setting bearish targets of 7650-7665. Nifty has already touched a low of 7678 including the fact that it covered the opening gap of 13th July when Nifty touched a low of 7800. There are chances that Nifty may decline to 7650 before any next move. Even otherwise, Nifty has strong support around 7630 which if violated with volumes can wipe off 300 points of Nifty in near future. Many global factors including monsoon may dictate the next short term trend. As far as, Bank Nifty is concerned it has already violated the support of 16,600 which may take Bank Nifty to 16,000 & below in coming days as may banking stocks are giving bearish indications in near term charts.

As far as bar reversal in Daily charts are concerned, stocks like ICICI Bank, ITC Ltd., Gail India, BPCL, Asian Paints, TCS, Coal India, Indusind Bank, Jubilant Food, JSW Steel etc have given "Upwards Bar Reversal" in daily charts while United Spirits, Wipro Ltd., Tata Elexsi (I), Dewan Housing Finance, Bharat Forge, Geometric Software, Tata Communications, Meghmani Organics, Nitin Fire Protections, Rain Commodities etc have given "Downward Bar Reversal". Stocks like Empee Distillary, HOV Services, Upper Ganges Sugar, Mavana Sugar, Diamond Power, ITI Ltd., Morepen Lab, MIRC Elect., Marksans Pharma, Birla Corp. etc have shown spurt during the day with unusually high volumes.

Sector wise, most of the stocks like EDL, IDFC, Morepen Lab, Karnataka Bank, Emami Ltd., NIIT Tech., GAIL, Everready, Syndicate Bank, Voltas, Marksans pharma, IB Real Estate, Kopran, CESC etc. were among the top gainers of the day to close in positive territory whereas stocks like ABG Shipping, Future Retail, Hexaware Tech., Anant Raj Inds., Dishman pharma, Prakash Inds., Nitin Spinners, NBCC, Opto Circuit, Wockhardt Ltd., Cox & Kings 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 7:9 with 671 advances and 851 declines during the day.

In nutshell, Nifty has made a bearish "Double Top" pattern when it touched a high of 7980-7995 within a gap of 5-6 trading sessions with multiple negative divergences which initiated decline from 7995 to 7678 (minus 315 points) in last 7 trading sessions. Nifty has a rising support around 7630 & another important support around 7500. If 7500 is violated Nifty may touch 7300 (+/- 50 points) in near future. On bullish side, Nifty faces resistance at 7740 in extreme short term and decisive move above 7740 may give an up move of 80-100 points in near term. Many bank stocks also looking weak which may drag down Bank Nifty in near term. The best strategy is to trade on both sides as both bullish as well as bearish opportunities are available.

Medium term trend (Intermediate): It continues down but movement is likely to be slow in a zig zag manner & minor rally shall invite profit booking. Last week Nifty behaved quite well & perfectly in our anticipated direction while giving short selling opportunity in first half of Tuesday when it reached our anticipated high of the week & slightly exceeded it (anticipated high was 7877 & actual was 7890) & then till Friday to reach our 2nd down target range by making a low of 7679 (anticipated range was 7867-7684)-Now how do you rate it i.e. 9.5 out of 10 or 9.75 out of 10 ?. Now in this week there should be resistance in the range 7798-7811 & conservative support range is 7629-7645: there are only outside chances of Nifty going to 7849-7872.

Long term trend (Primary): Present intermediate down correction is slow & clarity is not there as where it will end- For the time being one should take it that whenever Nifty reaches 7540-7552 there should be good support: present situation of Nifty can be compared with that between 20th December 2011 & 4th June 2012 when after taking support at 'very long term rising average' Nifty rose sharply to cover the preceding 2 intermediate down waves then fall slowly to make higher bottom than that of 20th December 2011 & again taking support at same 'very long term rising average', rose for 2.5 years-for long term bulls down correction at present juncture accumulating opportunity in stages.
 

 Astrological Outlook for the Week (09th May - 13th May 2016)

Current Planetary Position
- Astrologically, in Transit, 3 Planets i.e.  Exalted Sun  (In Bharani Constellation, ruled by inimical Venus), Venus (In Bharani Constellation, ruled by Venus herself) and Retrograde Mercury (In Bharani Constellation, ruled by Friendly Venus) are placed in Aries. Transiting Moon  is placed in Taurus. 2 Planets i.e. Jupiter (Retrograde)  (In Poorva Phalguni Constellation, ruled by inimical Venus) and Retrograde Rahu (North Node) are placed in Leo. 2 Planets i.e. Retrograde Mars in own sign (In Anuradha Constellation, ruled by Neutral Saturn) and Saturn (Retrograde) (In Jyeshthha Constellation, ruled by Friendly Mercury) are placed in Scorpio. Pluto (Direct) is placed in Sagittarius. 2 Planets i.e.  Neptune (Direct) and Retrograde Ketu (South Node) are placed in Aquarius. Uranus is placed in PiecesMoon will be transiting through Taurus, Gemini and Cancer during this week. 7 Planets are in retrograde motion as on 09th May 2016 i.e. Jupiter, Saturn, Mars, Mercury, Pluto, Rahu and Ketu.  Jupiter will remain retrograde from 08th January to 09th May 2016. Saturn turned Retrograde from 25th March 2016 till 13th August 2016. Sun will enter Taurus on 14th May 2016. Mars turned Retrograde on 17th April 2016 till 30th June 2016. Mercury will remain Retrograde from 28th April 2016 to 22nd May 2016. Pluto  turned Retrograde from 18th April 2016 till 26th Sept 2016. Mercury will rise from East from 17th May 2016.

Expected Weekly Movement - During next week , it will start with the hangover of some negative aspects like Sun-Pluto Trine aspect and Moon-Mars Opposition on Saturday, 07th May 2016. Next day i.e. Sunday it has Mercury-Ketu sextile and Saturn-Moon opposition but since planet Jupiter which was retrograde since 08th January will get Direct can dilute some of the negative effects of earlier 2 days. Monday, 09th May will see Sun-Mercury conjunction, Venus-Neptune sextile aspect and Sun-Ketu (South Node) sextile aspect which may form a minor bottom. Tuesday, 10th May will see Venus-Jupiter Trine aspect and Moon-Pluto opposition which may cause initial decline. Thursday, 12th May has Sun-Uranus Semi-Sextile aspect and Mercury-Pluto Trine aspect. Friday, 13th May will see Mercury-Venus Conjunction and Venus Trine Pluto, which can bring profit booking or down jerk in many stocks. Overall,  This week has many bullish & bearish aspects to induce volatility and sharp swings both sides but with positive bias in totality. Jupiter which is turning Direct on 09th May 2016 may bring in some positivity in market despite there are some negative aspects. Though there are some strong negative aspects also but mot of them may get diluted with positive aspects and week may close on slightly positive note.  (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, Stock Specific Buying advised on Monday,09th and Tuesday, 10th May 2016 to book profit on Friday, i.e. 13th May 2016 which may give good returns during this week. This is preliminary analysis. More accurate analysis with recommendations of Buy/ Sell will be provides to Subscribers during Market Hours) 


World Markets - Popular Commodities 
(This is preliminary analysis. Detailed analysis will be provided during Market Hours) 

Crude Oil Continuous ($44.66)
Technically, in longer term charts, for last 30 months, Crude was moving in a narrow "Symmetrical Triangle" pattern (rather a Rectangle pattern) having support at US$90 (Rising from 64 to 91 since 21/05/2010) and Resistance at US$114. Crude gave bearish breakdown from above pattern when it moved below US$90-US$91 in first week of October 2014, setting lower target of US$44-US$45 which were achieved on 13th January 2015. Crude declined further on international selling pressure to touch a recent low of US$26.05 on 11th February 2016. In Daily charts, Crude has given bullish breakout from 2 different patterns i.e. "Declining Channel" pattern and "Inverted Head & Shoulder" pattern, having Neckline Resistance around US$34.55 and Head at US$26.05.Bullish Breakout took Crude to US$42.5 as predicted. Coming to EST (1/3/5 Minute) Charts, Crude is locked in a "Triangle" Pattern having support at US$42.10 and Resistance at US$46.10. Breakout on either side can give a move of US$3.75-US$4.00 in the direction of breakout.

Astrologically, Despite Intraday and Intraweek fluctuations, Astro Indicators are in favor of volatility with positive bias between 09th May 2016 till 25th May 2016 in totality.
As far as Intra-week movement is concerned, higher levels will invite profit booking on Monday, 09th May but next day i.e. 10th May likely to see Upward U-Turn. Any decline during the next 3 days may get diluted and Crude may end in positive note in totality.


GOLD
Continuous ($1294.00)
Technically, since June 2013, Gold was moving in a "Declining Wedge" Pattern in daily / weekly charts making "Lower Tops and Lower Bottoms" (Tops = US$1434, US$1392 and US$1307, Bottoms = US$1179, US$1181, US$1130 and US$1045) which had resistance around US$1250. In shorter term there was another pattern which had support at US$1045 and Resistance at US1150. After breakout, Gold achieved the target of US$1250/-. In weekly charts also, Gold gave bullish breakout from the above "Declining Channel" Pattern (in making since August 2013),  with resistance around US$1250-US$1260, which was violated with Volumes for 2 consecutive weeks setting target of US$1500/- in coming weeks/ months. This pattern and targets will get negated if Gold retreats back below US$1240 for 2 weeks.  Coming to EST (1/3/5 Minute) Charts, Gold gave bullish breakout from a small "Complex Inverted Head & Shoulder" pattern having Head at US$1210 and Neckline at US$1272, thus setting bullish targets US$1330-US$1335 which may be achieved in coming days weeks. The given targets will get threatened if Gold moves/ closes below US$1240 for 2 consecutive days.

Astrologically, Despite Intraday and Intraweek fluctuations, Astro Indicators suggest that despite volatility, both Gold and Silver may continue to move up till 11th May 2016 (+/- 2 days) followed by weakness in totality till 05th June 2016. 
As far as Intra-week movement is concerned, both Gold and Silver may move up higher in first 2-3 days but profit booking can be expected at higher levels. Upwards move may be seen on 11th or 12th but Friday will again see profit booking.

SILVER Continuous ($17.52.70) 
Technically, as far as Daily/ Weekly charts are concerned, after touching an long term high of US$49.82 in April 2011, Silver has been making Lower Tops and Lower Bottoms. Silver made a "6 Years Low" at US$13.62 on 17th December 2015.  In Weekly charts, for last 11-12 months, Silver had been moving in a bullish "Declining Channel" pattern with support (Declining every Day) at US$13.60 and Resistance at US$16.05 which has already been violated with good volumes which is capable of taking Silver to US$19.05-US$19.50 in Short/ Medium Term. As far as 1/3/5 minute charts are concerned, Silver gave bullish breakout from "Declining Channel" pattern on 19th April and touched an intraday high of US$18.06 and re-traced back to US$17.21. Now as long as Silver remain above US$16, the bullish targets of US$19.05-US$19.50 are intact. On Bearish side, if Silver closes below US$14.82 for 2 consecutive days, one can expect that Silver will re-enter medium term down trend.

Astrologically, Despite Intraday and Intraweek fluctuations, Astro Indicators suggest that despite volatility, both Gold and Silver may continue to move up till 11th May 2016 (+/- 2 days) followed by weakness in totality till 05th June 2016. 
As far as Intra-week movement is concerned, both Gold and Silver may move up higher in first 2-3 days but profit booking can be expected at higher levels. Upwards move may be seen on 11th or 12th but Friday will again see profit booking.

Copper Continuous ($2.1540) 
Technically, Copper has been declining after making an All Time High of US$4.637 in February 2011, making Lower Tops and Lower Bottoms with occasional recoveries. It touched a recent low of US$1.936 on 15th January 2016 and started with minor recovery from oversold zones. As far as Daily/ Weekly charts are concerned Copper is declining since 18th May 2015 (Top made at US$2.95) to a recent low of US$1.9355 made on 19th Jan 2016 in form of a "Declining Channel" Formation with resistance around US$2.15, which if violated with volumes will set higher targets of US$2.50 which may be achieved in coming days/ weeks. As far as 1/3/5 minute charts are concerned, Copper has declined from US$2.30 to US$2.13 in last 6 trading sessions, putting EST momentum indicators in oversold zones with positive divergences which can initiate recovery to US2.21-US$2.25 in next couple of sessions. On bearish side, decisive move below US$2.10 may negative the recovery targets temporarily.

Astrologically, Despite Intraday and Intraweek fluctuations, Astro Indicators suggest that Copper may recover after 09th May 2016 to 13th May followed by volatility till 25th May. Many indicators suggest the direction to be positive during this period in totality.
As far as Intra-week movement is concerned, Higher levels may invite profit booking on Monday but next day i.e. 10th May see upward U-Turn and trend may remain positive till Friday (13th May 2016) when Profit booking may wipe off earlier gains.

Natural Gas Continuous ($2.1010) 
Technically, Natural Gas made an "All Time High" of US$13.428 in June 2008 and declined sharply over next 15 month to touch a low of US$2.69 in August 2009. After that it rallied again in February 2014 to touch a high of US$6.49 followed by Lower Tops and Lower Bottoms till it touched a low of US$1.611 on 04th March 2016. N.Gas has moved up from US$1.611 to US$2.304 in last 40-42 trading sessions. Now Gas is on verge of giving bullish breakout from a "Declining Channel" pattern of last 7-8 months, having resistance at US$2.25, which if violated with good volumes can take Natural Gas to US$3.00 in coming weeks/ Months. Support exists at US$2.05. As far as 1/3/5 minute charts are concerned, Natural Gas is locked in a small pattern having resistance at US$2.21 and support at US$1.95 and breakout on either side can give an up move of US$0.20-US$0.25 in next couple of days. (From 5T-020516)

Astrologically, Despite Intraday and Intraweek fluctuations, Astro Indicators suggest that period from 01st may to 16th May will remain volatile and recovery can be expected after that till 29th May 2016 in totality.
As far as Intra-week movement is concerned, higher levels will invite profit booking for first 1-2 days. Decline can be sharp also. Another Down Jerk is possible on 12th within the volatile trend.


USDINR Continuous (66.5903)  -  Technically,  in medium/long term charts, USDINR made a "Life time High" at 68.89 on 25th February 2016 and started declining to make a low of 66.01 on 04th April 2016. For last 32-33 trading sessions, INR is moving in a tight range of just Rs0.80-Rs0.90 with support at INR66.00. Decisive breakdown below INR66 may target INR63.75-INR64 in coming days. In the meanwhile, As far as EST Charts (1/3/5 Minutes) are concerned, USDINR has support around 66.0-66.05 and INR may come down to 64.00 in coming days/ weeks. INR can move up to 67.50 if it moves/stays above 66.85 in near term.

Astrologically, most of the indicators are in favor of INR till Friday, 18th/19th May 2016 but after that USD may gain strength till 06th June 2016 (+/- 2 days). As far as Intra-week movement is concerned, INR looks very volatile and USD may dominate over INR during this week.  
 

Technical Stock Recommendations (Short Term)

Tata Motors (397.6)  
Stock is on verge of giving bullish breakout from a small "Double Bottom" pattern in 3/5/10 minute charts of last 3 trading sessions having resistance at 396, which if violated with volumes can target 410+ in coming 1-2 days. Fresh Buying can be considered on declines till 395 with SL of Rs7/- and Target 410+ in 1-2 trading sessions. 

IB Real Est (77.70) 
Stock has given bullish breakout from a small "Inverted Head & Shoulder" pattern in daily charts of last 22-23 months having neckline resistance at 65-66, which is already violated with volumes setting bullish targets of 120-125 which may be achieved in coming weeks/ months.
Fresh Buying can be considered on every corrective decline till 65-66 using SL of Rs10/- and target Rs120-125 which may be achieved in medium term.

Tata Steel (329.60)  
Stock has risen sharply from 210 to 365 in daily charts of last 54-55 trading days putting short term momentum indicators in highly overbought zones with negative divergences which can initiate corrective decline to 303-305 in coming days/ weeks. Part Profit booking/ Short Selling can be considered once the stock moves/ closes below 325, using SL of Rs8 and Target 300-305 in near term. (Note - Stock is bullish in Short/ Medium Term. Shorts if, initiated should be well protected)

Adani Ports (193.90)  
Stock has declined sharply from 243 to 191 in hourly charts of last 3-4 trading sessions putting short term momentum indicators in highly oversold with positive divergences which may initiate technical recovery to 208-210 in coming days. Fresh Buying can be considered on every corrective decline till 188 using SL of Rs6/- and target Rs208-210 which may be achieved soon.


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 or inability to 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: Analysts/Astrologers associated with this website do not have positions in any of the recommended financial securities.