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Nifty Intraday Trend Analysis, Stock Market Prediction & Support Levels
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Source:- TradingFunda.com & AstroShivir.com & MiddayReporter.com
Stock Market Astrology Reference:-
“Stock Market Astrology & Astrological Theory of Business Cycles” by Indrodeep Banerjee
Stock Market/ Nifty Overview
The previous nifty session closed on a positive note after a strong opening. After the opening Nifty kept trading with positive strength within the positive territory and a volatile trading session at the end of the day but finally managed to attract some decicive buying in the market to end with a strong note. Strong buying spree in the market helped the nifty to sustain the 5000 level in the market.
Market News & Investor Sentiments
1) Crude Oil is now trading above US $111 per barrel mark which is a major concern for investors.
2) Inflation level continueing to remain cool is boosting the investor sentiments in the market.
Technical Analysis
Markets closed above 5 DMA & 20 DMA levels and RSI around 96, indicating that the market is witnessing bullish investor sentiments and strong buying spree above the 5000 mark in nifty. Investor confidence in the markets seems to be building up.
Astrological Analysis Astrologically Mars in Leo aspected by Venus and Jupiter will try to pull the prices up while the un in capricorn will tend to bring weakness and selling pressure in the market. hence we may expect volatile trading during the next few weeks in the market. Every buying spree will be witnessed with strong profit booking in the market and nifty may slip below 5000 mark many times in the next few weeks. Reference Page 69 of “Stock Market Astrology & Astrological Theory of Business Cycles”
Intraday Support & Resistance Levels
Nifty finally closed at 5049.60 gaining 30 points or 0.60 % With Advance-Decline Ratio in favor of the bulls.
Nifty Intraday Support for the market shall be 5000 & 4962.
While the market will experience resistance at 5083 & 5128.
Intraday Trading Strategy
Best Strategy shall be to:-
Buy above 5062 with Stop Loss of 5036 while
Sell below 5036 with Stop Loss of 5062.
Overall sentiments remains marginally optimistic with easing of food inflation which may lead to a phase of volatile trading in the markets with positive bias at the current levels.