MARKET VIEW FOR 30.6.2009

As anticipated, Nifty Future encountered resistance at 4447, and closed the day at 4390 near the open and has formed a doji. 4430 is the mid-point of 4703 & 4155 and hence it has acted as reistance for the first time.
Tomorrow it may do another attempt to break the level of 4450. In case it can not cross this level, one can go short with stop loss of 4460 and target of 4331. At higher levels 4480-4490 will act as bigger hurdle. Considering that there are 4 trading days to the budget, market may move in the range 4300 - 4500.
RELIANCE FUTURE : It decisively went upto 2120 but closed lower at 2092. Buying should be avoided tomorrow, as it can come down upto 2030 levels. On upper levels it will find resistance at 2150.
INFOSYS FUTURE: Infosys came down relatively more than the other heavy weights and looks weak. It can be sold around 1800-1810 in the early trades with stop loss of 1830 and target of 1750 and 1730.
Tomorrow is an important day as it is the last trading day for the formation of monthly candle.
Close below 4511 will give first indication of the rally getting tired after 3 months and about 86% upmove.
Please keep STOP LOSS while trading.
Happy Trading,
Ketan Asher.

MARKET VIEW FOR 29.6.2009

Considering the Friday close of Nifty Future, Reliance and Infosys market can be expected to open strong.
Fresh Nifty purchase should be considered above 4390 with a stop loss of 4359 and target of 4430-4450. Above this 4480-4495 can be a big hurdle.
Reliance Future can be bought above 2050 with stop loss of 2030 and target of 2070 and 2100 and 2150.
Infosys future is heading for 1884 and fresh buying should be avoided.
Next week will be a week prior to THE BUDGET and therefore higher level of volatility can be expected and hence it is advisable to keep tight stop loss.
Though unrelated, I would like to mention that DOW below 8200 can puncture our pre budget enthusiasm and hence calls for cautious approach.
Do trade carefully.
Happy Trading,
Ketan Asher.

ASTRO TECHNICAL GUIDE FOR 29.6.2009 TO 3.7.2009

Astro Info :: Moon in Virgo to Scorpio in the constellations from Hastha to Anuradha.
29.6.09::Market expected to open steady and immediately become weak and recover after 12.00pm and may become weak towards close of the day. Market expected to be specifically good between 12.15pm to 1.30pm. PSU and Power sectors are expected to eb subdued.
30.6.09:: Market expected to open subdued and immediately recover and remain subdued after 11.40am. However, there can be some recovery between 1.30pm and 2.30pm. Software stocks are expected to be better.
1.7.09:: Market expected to open steady and immediately recover and generally remain steady to better. Steel stocks could be subdued while Bank and Technology could be better.
2.7.09:: Market expected to open better and remain steady in second half of the day.
Steel stocks could be better while Technology could be subdued.
3.7.09:: A voaltile day with wild fluctuations. Market expected to open better and remain weak after 11.30a and recover after 1.30pm. PSU adn Bank stocks could be subdued.
In view of the pre budget week, some euphoria is possible and market is generally expected to remain better.
Technical Levels:: Nifty bullish above 4400 with resistance around 4467, 4524 and 4616 and weak below 4350 with supports around 4285,4225,and 4134 for the week . Market may not go below 4250 this week.
Above observations are based on Planetary positions and traders are advised to consider technicals also and adapt to intraday movements with strict stop loss.
Happy trading
Dr. B Amaranatha Sastry.

MARKET VIEW FOR 26.6.2009

Yesterday's fall can be attributed as nervous reaction on the FNO settlement day, due to lack of conviction on the part of market participants to roll over long positions at current levels ahead of budget, just a week later. At this levels, I would consider the odds in favor of market rising from here, and hence it is better to buy at lower levels, as long as it remains above 4100.
Nifty Future can be bought at the opening with stop loss of 4190, with 4350 as the first target. As you will see on the attached chart, 4360 region has been hurdle for past 3 occasions (see Red Trend Line) and hence breaking of the same now becomes very important. Above this level 4385 and 4430 will be the hurdles for Nifty Future.
RELIANCE FUTURE: Buying can be considered in reliance at the opening with previuos low of 1900 as the stop loss. First target could be considered as 2000 and break of 2030 could bring further strength and also help Nifty future cross 4360 levels.
INFOSYS FUTURE: Infosys can be sold below 1735 as it will break a Trend Line as shown in the attached chafrt. Stop Loss of 1770 should be kept.
Please do not forget to use Stop Loss.
Happy Trading,
Ketan Asher.

MARKET VIEW FOR 25.6.2009

In today's trading, Nifty Future managed to close :
1. Above the Trend Line
2. Out of the Wedge, that is being shown on the charts for past few days.
3. Throughout the day breadth of the market remained positive.
4. Close was near the higher end of the day.
The above situation certainly augurs well for the market, but for the weak oscillators not giving the desired upward thrust.
From the day's closing it can be assumed that market should open with upward bias tomorrow. On upside Nifty future will find resistance at 4345, 4385 and 4440. Buying Nifty can be considered at the open with stop loss of 4270. One can even go short below this level with first target as 4235. In this case stop loss of 4302 must be kept.
RELIANCE FUTURE: It did not perform in line wtih the strength it showed yesterday when it bounced from the lower levels. Buying may be considered at the opening, with 1975 as stop loss. It will show strenght only above 2055 and will find resistance at 2100 and 2140.
INFOSYS FUTURE: Should be considered for buying only above 1781, with stop loss of 1759 and target of 1810 and 1840.
Tomorrow being the last day for FNO settlement, market could remian volatile. I would also like to add that oscillators are still showing weakness and may not support one way upmove. Nifty future can go upto 4500 and commence downtrend. Looking at the market for past couple of days this possibility can not be ruled out and trades should be protected with stop loss.
Happy Trading,
Ketan Asher.

MARKET VIEW FOR 24.6.2009

Today (23.6.2009) Nifty future and many front line stocks opened weak but did show improvement by end of the day. However, the close could not be decisively above the trend line and hence leaving a shade of doubt about tomorrow's market movement. Fresh buying in Nifty future should be done only above 4281, with stop loss below 4255. It can face resistance @ 4345, 4385 and 4450.

4190 should be used as stop loss for long positions as it will indicate that Nifty is likely to go down further. One can even consider going short at this level with stop loss of 4230. Moreover, long positions in individaual stock should also be closely monitored and suitable stop loss should be placed.

RELIANCE FUTURE: Todays' candle of Reliance is a typical Piercing Pattern and giv es hopes that the market will see levels above 4281 tomorrow. Once the market settles down after opening, Reliance can be considered for fresh buying around 2000 levels with stop loss below 1975. At higher levels Reliance will find resistance at 2060, 2100 and 2150 levels.

INFOSYS FUTURE: Considering today's price action in Infosys, it is advisable to buy it only above 1771 with stop loss of 1745. Fresh selling can be considered only below today's low of 1709 with stop loss of 1730.

Please do not trade without stop loss.

Happy Trading,

Ketan Asher

MARKET VIEW FOR 23.6.2009

Today, Nifty futures went down considerably (low of 4225) but did not break the low (4202) formed on Friday, Howerver, it closed very near low of the day, suggesting weak opening tomorrow. Nifty future remained above the Trend Line and within the Wedge shown on the chart, giving hope of a bounce from this levels, particularly in the light of F&O settlement few days from now.
In case markets opens with lower gap and remains above 4150, it can still bounce back from this level. At this level buy can be considered with 4125 as the stop loss. Breakout from the wedge can happen tomorrow above 4325 only, but market getting back above 4250 should be considered as positive. Remaining/going short at lower levels (below 4200) is not advisable.
RELIANCE FUTURE: It was the major contributor for Nifty's fall. However, in the process it has completely filled the gap left behind on 18th May Gap open and also retraced 1/3rd. Here again, I have shown a Wedge that could result in a sharp upmove in light of F&O settlement this week.
It is not advisable to go short at this levels. Breakout from the wedge can be expected above 2010. Buy can be considered above 1951 with tomorrow morning's first half hour low as the stop loss.
INFOSYS FUTURE: This still remains one of the stronger stocks amongst the heavy weights. Going short/stop loss for long postions can be considered only below 1725.
It will be advisable to consider new buy positions tomorrow, only after the first 15-20 minutes looking at the trend. Please do not trade without STOP LOSS.
Happy Trading.
Ketan Asher
.

Astro Technical Guide for the week 22.6.09 to 26.6.09

Astro Technical Guide for the week 22.6.09 to 26.6.09 ::

Moon Placement From Taurus to Cancer in the constellations from Mrigasira to Aslesha during the week.

22.6.09 :: Market expected to open better and may remain subdued from 11.30 /12.00 pm. However, time from 1.50pm to 2.45pm could be Bullish. Bank stocks expected to fare better and PSU stocks also could be better and Software stocks to remain steady.
Sensitive / Trend change time 1.10pm

23.6.09 :: Market expected to open better and remain subdued from 12.00pm and to recover after 2.40pm. (recovery after 2.40pm could be significant depending on the then technical position). FMCG and Power stocks expected to be better. Sensitive / Trend change time 10.20 and 1.00pm

24.6.09 :: Market expected to open better and expected to remain subdued after 12.00pm and may recover towards close of the day. Technology stocks are expected to be better.
Sensitive / Trend change time 12.45pm

25.6.09 :: Market expected to open steady and remain subdued / weak from 11.45am and may recover after 1.45 / 2.00pm. Sensitive / Trend change time 10.05 and 12.50pm
This being F&O expiry day, scrip specific action most likely. About 50 stocks are going out of F&O , there could be wild fluctuations in those scrips. If fundamentally good scrips fall disproportionately due to unwinding of positions, they may be bought in Cash market for decent gains in short term .

26.6.09 :: Market expected to open better and remain steady after 1.30pm. Bank and FMCG stocks to be volatile, Sensitive / Trend change time 1.20pm.

In view of F&O expiry week, scrip specific action likely. As Budget is fast approaching , there could be some rally in sectors which are likely to benefit such as Fertilisers , housing etc., Astrologically Sun is entering Aardra constellation (from 22.6.09 to 5.7.09 )which is generally Bullish (Bullish in 7 years out of last 9 years). We have to wait and see for this year.

Technical Analysis :: Nifty fut . strong above 4350 with resistance around 4416,4472 and 4562 and weak below 4300 with Supports around 4234, 4177 and 4080 for the week. Extreme range is 4710 on the up side and 3940 on the down side.

Dr. B Amaranatha Sastry

MARKET VIEW FOR 22.6.2009

In my post on evening of 19.6.2009, i have given detailed reasons for market to have bounced from 4200 levels. Add to it one more reason known to all, that it touched the Trend Line which is being shown on my charts for past few days.

As for Monday, Nifty Future should open with more confidence that interim bottom is made. On my chart i have shown a falling wedge formation, the breakout of which should happen @ 4350. Normally, such wedge breakouts are very sharp and hence it would be interesting to see if market moves up as sharply as the pattern suggests - i would hasten to add here that the oscilltors do not confirm strenght in the move. It will find resistance @ 4385 and there after a bigger hurdle @ 4450 and the last one being 4500. In veiw of the above, if at all market goes to 4500 range it is better to liquidate long postions and watch for further move. Long positions taken at lower levels should be protected with stop loss of 4250. Fresh buying can be consiered above 4350 with stop loss of 4320.

RELIANCE FUTURE: On friday, Reliance led the recorey process, as it sharply moved up by Rs. 60 in last hour. Here again i have shown Wdge formation and it can show a sharp up move, but once again not supported by oscillators. On Monday it can be bought above 2051 with a stop loss of 2025. Long positions taken on Friday at lower levels should also keep the same stop loss. It will encounter first resistance at 2100 levels, then at 2130 and major hurdle at 2180 levels. It will be prudent to liquidate long postions at this levels.

INFOSYS FUTURE: As is being suggested here for the past two days, this remains one of the strong stocks and may help Nifty gain strength. Its recent top of 1838 will act as resistance and thereafter 1885 should be watched for reasons given on the chart.

Always use the Stop Loss.

Happy Trading,

Ketan Asher .

WHY MARKET TOOK SUPPORT @ 4200

In the last one hour, Nifty future rose by over 100 points. What prompted it? For those academically inclined may find it interesting to see the chart and my notings thereon. With use of only Fib levels, it was possible to get this TURNING POINT.

For those who attended the last workshop would recall, that lot of empasis was put on 1.618 level. Here's a live example of it.

I give below quote from para 1 of Dr. Sastry's Astro Technical guide for 19.6.2009 :

"Outlook for 19.06.09:: Market expected to open better and immediately may become weak from (10.15am) and recover from 11.15am to 12.10pm and may recover from 12.20pm or from 2.30pm. "

Incidentally, market turned after 2.30 and making higher bottom of 4219. May be, time did the trick!

What next.... lets leave it for Monday Market Review.

Have a nice weekend.

Ketan Asher.

MARKET VIEW FOR 19.06.2009

Yesterday Nifty Future continued its downward move after it was not able to move above 4385 level. Being last day of the week it is likely that Nifty Future will take support @ 4200-4220 region and move up. The reason for expecting support are - Trend Line and Fiboncci levels as show in the attached chart. This up move should be considered as a pull back and it is adviable not to carry over the futures poistion over the weekends. On its way up, Nifty Future will find resistance at 4330 and 4385. Buy position should have stop loss of 4198.

RELIANCE FUTURE: Reliance has taken support at 1990 and should show a bounce from this level (and help Nifty go up). It can be bought with a stop loss of 1970. It has left the gap unfilled by a few Rupees, which it may try to do today and will offer good opportunity to buy at these levels for a pullback. 2100-2120 will act as the first resistance and there after 2170-2190 will act as hurdle. Yesterday 2010 Call was available for about Rs. 80. If it is available in this region in the opening trades, it will offer a good risk/reward opportunity. Do not purchase too OTM call- just becaus it appears cheap.

INFOSYS FUTURE: Yesterday in the first half, Infosys did show strength but with market going below 4300 it too fell. I would like to repeat that daily candle does indicate buying at lower levels and another importanct point to note is, that it crossed previuos days High and did not go below previous days Low. It can be bough above 1730 with stop loss below yesterday's low of 1696. on upper side it will face resistance at 1760 - 1780 and 1800.

The Test for the market now is - that after a healthy correction we saw during this Week, how much strength it has during the pull back. This will decide whether we will see life below the Trend Line any time soon.

Happy Trading,

Ketan Asher.

Astro Technical Guide for 19.6.09

Astro Info:: Moon posited in Bharani ruled by Venus

Outlook for 19.06.09:: Market expected to open better and immediately may become weak from (10.15am) and recover from 11.15am to 12.10pm and may recover from 12.20pm or from 2.30pm.
Trading strategy for the day :: If market opens better book profits by 10.15am and buy at 11.10 as market is expected to go up significantly for about One hour and book profits and reenter if market appears to be recovering later. In view of the steep fall in the last Two days, market may stage a technical pull back . Hence, if market continuously trades above Open level, intraday long positions may be held with trailing stop loss also.

It should be borne in mind that the general market is in correction mode and long position is generally against the trend and intraday positions should be based on intraday movements and traders to be alert.
Advance out look for 22.6.2009 :: Market expected to be better in First half and be weak in Second half of the day.
Technical Levels :: Nifty futures bullish above 4289 with resistance around4314,4336,4369 and bearish below 4371 with supports around 4245,4224 and 4190 for the day...
Astro guidance is to be used as an additional tool in addition to technicals and adapted depending on intraday movements..
Trade with stop loss..
Happy trading..
Dr. B Amaranath Sastry

MARKET VIEW FOR 18.6.2009

Nifty Future declined to the expected levels. From these levels it can see a bounce. Tomorrow, once the market goes above its opening level, Nifty future can be bought with today's low or new low (in case) formed in the morning as stop loss. Please note that this should be considered as the first leg of the correction. We are about 20 days away from the Budget Day and this period can be a time for the market to correct itself. Those who are statistically oriented may find it interesting to read my notings on the Nifty Future chart attached herewith. Nifty future will find hurdle at 4390 and 4430. Trend can be considered bullish only if NFuture goes above 4515.

RELIANCE FUTURE: Reliance corrected significantly as it has broken the trend line drawn from the lower levels (indicated on the chart). As is being mentioned, around 1980-2000 levels it can be bought for the first target of 2100 -2140-2170 levels. Short position in Reliance should be squared off at these levels. Please note the effect of Trend Line Break. We have to see similar effect on Nifty Future as and when the Trend Line is broken.

INFOSYS FUTURE: Infosys was considerably firm in todays market and the candlesticks for the past 4 days indicate buying at lower levels. it can be considered for buying above 1730 for the target of 1760 and 1780. Will it lead the market for the next few days? Well it does look like that - more so as Reliance is relatively weak.

Please Do NOT TRADE WITHOUT STOP LOSS.

Thanks,

Ketan Asher.

PS: Please feel free to post your comments, The features seems to be working now.

Astro Technical Guide for 18.6.09

Astro Info:: Moon posited in Aswini ruled by Ketu
Outlook for 18.06.09:: Market expected to open steady / subdued and may recover from 10.20am and further from 11.00am and to become steady / subdued from 2.30pm and market expected to close in green
Trading strategy for the day :: If market opens steady and trades above open level by 10.30am , long positions can be taken with day low as stop loss and trend change can happen around 12.30pm .

It should be borne in mind that the general market is in correction mode and long position of morning is against the general trend and traders should be alert.
Advance out look for 19.6.2009 :: Market expected to open better and and immediately become subdued to recover in second half of the day.
Technical Levels :: Nifty futures bullish above 4348 with resistance around4374,4396,4431(and 4487 in case of extreme bullishness) and bearish below 4331 with supports around 4305,4283 and 4248 for the day...
Astro guidance is to be used as an additional tool in addition to technicals and adapted depending on intraday movements..
Trade with stop loss..
Happy trading..
Dr. B Amaranath Sastry

Yesterday market has broken a Trend Line (Brown colour on the chart) which is the first indication of weakness, in the rise we have witnessed since election results. However, the bulls will continue show strength till Nifty Future remains above the main Trend Line (Red colour on the cahrt) drawn from starting point of this rally 2525.25. Incidentally, this trend line is very close to being the 45 degree angle line from that point and hence will have major significance for indication of the trend change.

For today all short positions should carry stop loss of 4571. Below 4540 market will remain weak. Weakness will acclerate below 4500. In the event of Nifty Future goes down to 4350-4375 range it should be bought.

RELIANCE FUTURE: Reliance continues to remain weak and below 2100, it can go upto 1980-2000, which will be a good level from which bounce of Rs. 100-150 can be expected.

INFOSYS FUTURE: For last two days it has been showing good buying at 1690 levels. It can be bought if it goes above yesterday's High of 1740, with a stop loss of 1720 and a target of 1780.
Happy Trading,

Ketan Asher.

MARKET VIEW FOR 16.6.2009

As expected Nifty future got into correction mode. Reliance that supported the market on friday, led the fall today.
Today, opening can be expected to be weak, in view of lower US markets. Below yesterday's low of 4481, nifty furure can find support at 4430 and below that will find support at 4385 and 4350. Nifty Future may be bought at 4350 levels with a stop loss of 4325. Avoid carrying forward long trades overnight till market shows upward bias.
RELIANCE FUTURE: Reliance may test support @ 2100, but looking at yesterday's fall, it is unlikely to hold. Below 2100 it can go upto 1980-2000, where it will find good support. Short position should be squared off at these levels, but fresh buying should be avoided for the time being.

INFOSYS FUTURE: In weak market, below 1700, it can go upto 1660. Infosys can be considered for buying at this levels with stop loss of 1640.

MARKET VIEW FOR 15.06.2009

Last week Nifty Future closed with a doji which indicates tiredness at higher levels. I have once again posted weekly chart for ready reference. The chart indicates multiplicity of hurdles in the form of Trend Line and the main one being 4766 - .618 level of 6336 and 2228. The speed with which market came down from High of 4703 does indicate weakness at higher levels, but trend change can only be confirmed once market trades below 4540. For today above 4635 should be considered bullish with stop loss just below 4590.

RELAINCE FUTURE: On Friday Reliance helped to minimise the impact of the last one hour fall. Above Friday's high of 2383 it can try to acheive 2401 and 2425. Below 2330 it will turn weak and go down upto 2275.

INFOSYS FUTURE: Infosys remained weak on Friday and weakness will accelerate below 1700 and can go upto 1650. Infosys will gain strength above 1780.

Expect today to be a wide range day.

Do not trade without Stop Loss.

Happy Trading,

Ketan Asher.

Weekly Astro Technical guide for the week 15.6.09 to 19.6.09

Astro Info :: Moon posited in Aquarius , Pisces and Aries during the week.

15.6.09:: Market to open steady and recover from 10.30am to 12.30pm and reamin subdued thereafter to recover after 2.45pm. Cement and Steel stocks may remain subdued. Sensitive time 1.08pm.

16.6.09:: Market top open steady and remain subdued therafter to remain weak from 12.30pm and recover after 2.45pm. Software stocks could be better. Sensitive time 2.30pm.

17.6.09:: Market to remain subded and recover after 10.25am and remain steady towards close of the day. Bank stocks could be subdued

18.6.09:: Market to open subdued and recover from about 11.00am and remain steady towards close of the day. Bank and PSU stocks could be better. Sensitive time 10.45am.

19.6.09:: Market to remain steady / better and immediately become weak (From 10.20am) and recover after 12.30pm. Entertainment, Power, Steel and Cement stocks could be better. Sensitive time 11.23am and 14.13pm.

Technical Analysis :: Nifty Bullish above 4607 with resistance around 4681,4740 and 4837 and weak below 4562 with Supports around 4488.4429 and 4333 for the week.

PSU stocks may recover while Bank stocks could remain subdued.
Trade with stop loss..
Happy Trading

Dr. B Amaranatha Sastry

MARKET VIEW FOR 12.6.2009

At the outset my apologies for not posting my comments for the last 2 days, due to some technical problems in Googles system vis-a-vis this blog. In these two days, market has been maintaining upward momentum and having daily range of about 100 points. The way market has pulled back from the lows, clearly indicates buying at lower levels - irrespective of the Technicals.

Tomorrow, above 4700, Nifty future may go up to 4750-4765. Assuming that buying support is enough to disregard the important levels indicated in the Weekly Futures chart, discussed later, it can even go higher. It is worth noting that above 4700, NIfty Future will be traversing the same levels which Nifty Future had on 2.6.08 i.e. High of 4896 and Low of 4693. If it can fall so much, it can also rise so much - in a day. So be prepared for a good ride, if the market decides to go above 4700 tomorrow.

4540 should be used as stop loss to liquidate long postions, based on high of 4696. If this level is broken on the upside tomorrow, the stop loss should accordingly be increased.

I have also attached a weekly chart with couple of Trend lines and .618 and 2/3rd levels from 6336 and 2228. You will find that all these levels are in the range of 4700 to 5000. Is the market TOP somewhere here? May be .... because even weekly 14 day RSI is much above 80. Since market can remain overbought for quite some time, it is not advisable to go short on the market, but at least keep booking profit and it will also be prudent not to add any new long postions at these levels.
For reasons stated above, although i have attached the chart of Reliance and Infosys, i would not recommed making new trading buys.

Happy & Profitable Trading,

Ketan Asher.

PS: All those who attended last week's workshop may find it interesting to note that today, market made a low of 4691.05 which is on Sq of 9 and was also very close to Monday open of 4690.

MARKET VIEW FOR 9.6.2009

As anticipated, Nifty Future did correct yesterday. I expect that if yesterday's low is broken, Nifty Future could go down upto 4350, where it will find good support. In yesterday's session when whole market was in correction mode, Infosys was quite strong , indicating that there must be some good news that market does not know.

Nifty Future : It would be safe to buy Nifty@ about 4350 (with stop loss of 4319) for a pull back, which can go upto 4510-4530. In the even that this target (of 4350) is not reached, in the 1st half an hour you can buy Nifty Future with a strict stop loss just below days open. First target in this case too would remain 4510-4530.

RELIANCE FUTURE: Buying in Reliance should be considered only above 2230, with stop loss of 221o and target of 2315.

INFOSYS TECH: As stated earlier, yesterday it was the strongest amongst the front line stocks. Long positions in Infosys should be protected with a stop loss of 1720.

Please do not trade without stop loss.

Happy Trading,

Ketan Asher.

MARKET VIEW FOR 08.6.2009

On last Friday, Nifty Future made a new top @ 4643.75, but immediately gave up the gains to close at 4592.35. The fact the Nifty future broke out on the upside, after a prior 3 days of sideways movement, but could not go above the 4655 level, indicates fatigue and likelyhood of a correction. For today, long position should be avoided and short postion should be taken below 4550 with a stop of 4575. Below 4510 market will weaken further. in the envent of a fall, 4350 should be consided as a major support.

Reliance Future will weaken further if it goes below the Trend Line and below its Friday low.

For Infosys Future, 1730 may be considered as target for liquidating long position and taking up short position with 1751 as stop lloss. Infosys will weaken below 1645.

Please do not trade without Stop Loss.

Happy Trading,

Ketan Asher.

Astro Technical Guide for 5.6.09

Astro Info:: Moon posited in Visakha ruled by Jupiter

Outlook for 05.06.09:: Market expected to open better and remain steady thereafter to recover from 11.10am and to change its direction (mostly subdued / weak) from 1.20pm. Major trend change time during the day 11.40am and 1.16pm.,
Trading strategy for the day :: Based on the above timings , trading stragey mayu be designed and trading itions to be liquidated by 1.15 / be held with trailing stop loss.
Technical Levels :: Nifty futures bullish above 4594 with resistance around4621,4644,4671 and bearish below 4575 with supports around 4548,4525 and 4488for the day...
Trade with stop loss..
Happy trading..
Dr. B Amaranath Sastry

MARKET VIEW FOR 5.6.2009

Yesterday, Nifty future went lower than the previous day - took support @ Sq of 9 number 4456 and then had a smart recovery to cross previous day's high and also end the day near the high. As being mentioned for the past few days, till such time Nifty goes below the Trend Line, such spurts should be considered to be normal. With US markets closing firm, Nifty futures may try to touch the level of 4650 today. The RSI indicator (shown in the attached chart) does not suggest that the market will cross the level of 4655 in this round. With budget day being 3.7.09, it leaves enough time for the market to see a healthy correction - say upto 3950 -4000 range.

Long positions in Nifty Future will continue to have stop loss as 4510.

Reliance was one of the weakest counters and accordingly it fell to take support on the Trend Line shown in the attached chart. Long positions in Reliance will have stop loss of 2250, and it will gain strngth only above 2325.

Infosys can be bough above 1645, with stop loss of 1615 and for target of 1700.

Please do not trade without STOP LOSS.

Happy Trading.

Ketan Asher.