morning thoughts..
Nifty witnessed a high volatility this week. It initially moved higher, even above the 6,050 level but could not sustain it and moved lower to test 6,000 levels after breaching 6,050 level again, It started upward journey and ended the week well above the crucial 6,100 mark. It gained about 2.08% (125 points) from the last week close. Our analysis regarding the same as been right on dot and as we said any move near to 5950 would provide an opportunity to create longs , well the markets behaved in exactly the same pattern and closed above 6125 levels on the nifty front.As said for a fresh momentum a trading close with sustainable volumes above 6125 levels is required , well the nifty obliged and a rally with vengeance was witnessed above 6125.Following our strategy longs created keeping in mind 6000 was held and fresh longs above 6125 levels have paid off. Technically, last six day's chart of Nifty is moving under channel pattern and breakout can be either side. Nifty breached the psychological mark of 6,100 decisively on the very last day of week and managed to sustain above that, currently facing stiff resistance at 6,210-6,230 if this level breached decisively then we could see rally upto 6,260 mark and on the flip side immediate strong support at 5,960 if this level breached then we could see fall upto 5,920 mark. Technical momentum indicator Stochastic is currently moving in neutral zone, on the brink of entering into oversold territory indicating uptrend. RSI is trading in oversold territory at 77 showing positive crossover. While MACD is on the verge of giving negative breakout and currently showing maximum divergence. Last day of the week nifty has just managed to close above 8 Day and 34 day EMA and not showing any reversal sign for coming week, expecting small correction in forthcoming session but overall looking positive and is likely to move between 5,990-6,200.
The movement of Sun will be in Earthy and dual sign Virgo till 17th October 2010 and after that it will transit through the Airy and movable sign Libra for the rest of the month October 2010. Therefore, during the first half of the month, there could be slow process on the implementation front of some of important policies related to public interest. However, during the second half of the month there could be visible differences among high officials or between different government bodies on some of critical issues. If there will be any high level meetings on international forum then also making consensus among world leaders would be difficult and there could be no any clear view on the issues.
The movements of planet Mercury will be in own sign Virgo till 16th October 2010 so, during the first half of this month, market could see some stability and the confidence of investors would increase where prices of commodity items could get stabilized. However, during the second half of the month when Mercury will transit through Libra, there could be upward trend in the market but it is also good sign to start the dialogue process between the nations.
Moon, the beautiful energy that helps us to connect to the finer things of life starts its quick-footed journey from Gemini and will be in the sign Leo at the end of the month.
Planet Mars is the energy that helps us to push forward and attain our hopes and dreams, will transit through Libra till 19th October 2010, which would be good for the petroleum and chemical industry but security forces may face trouble from anti social elements. However, from 20th October 2010 onwards the armed forces may be able to take control on those anti social elements and to protect the peace and prosperity of common public when Mars will transit through its own sign Scorpio.
Venus, the planet that signifies our sense of appreciation for good and beauty in all forms of harmony as well as wealth will be transiting through its own sign Libra through out the month of October 2010. Therefore, this is a good indication for entertainment industry. However, after 8th October 2010 Venus is going to take retrograde motion for the rest of the month so, it is not good for entertainment industry where some of good projects may also face operational problems. Even then the industry related to beauty products and other products related to ladies may see more demand as well as rise in the market.
Planet Jupiter, which signifies wealth, peace and prosperity in the society, would be continue with its transit through Pisces during this whole month of October 2010 but with retrograde motion. Therefore, this transit of Jupiter could not prove favorable for financial prosperity in the society and every sector might face its effect as per their trend in the past.
Planet Saturn would continue its transit in to Virgo sign during the whole month of October 2010, which is not good for the persons who are going through Sade Sati. However, the transit of planet Saturn in to sign Virgo, would enhance peace and prosperity in the world due to its transit through the friendly sign Virgo.
The eternally retrograde energies, Rahu and Ketu will transit in Sagittarius and Gemini respectively. This transit of Rahu and Ketu may bring significant Karmic changes good or bad in our individual life. However, they could act in a positive or a negative manner on the basis of their placement in the individual birth chart.
Stocks to watch
Sujana towers , msk projects , dena bank , madhucon projects looks good for short term
www.astroeyes.co.cc
Friday’s calls sent via yahoo messenger ( sms is on temporary ban by government )
Nifty- buy at cmp 6076 sl 6049 targets 6135 , went 6183.95
Nifty 6100 ce – buy arc mp 114 sl 108 targets 135 , went 179.50
Unitech – buy at cmp 90 sl 89 targets 93 , went 95.50
Repro India – buy at cmp 126 sl 124 targets 131 , went 136
Unitech 90 ca – buy at cmp 4.40 sl 4 targets 8 , went 8.10
