We had expected the lunar influence to cast a negative shadow on the market and it did.Nifty closed at 5691.40, 25.75 points down.My doubt was when Moon enters the sub of Venus which it did from 12:05:20 pm till 16:05:23 pm, beyond closing hours.Obviously Venus could have only a cursory influence because the Lunar effect is so negative.Briefly when Moon was trine with Jupiter, recovery was attempted, but it only failed.
At the time of writing this post, I looked at the Dow and had a shock-minus 254 points! Just shows how the negativity had increased throughout the day and affected other live markets.
October 25 is ruled by Rahu.Apart from Moon, both Saturn and Sun also are in Rahu. Transitting Rahu is in trine with Natal Rahu.Transitting Rahu is opposing Natal Jupiter.So a positive effect may be expected.
Moon reaches its maximum Latitude on Oct 24th. Sun and Neptune are in decl-conj .Effect is seen usually one day after. We have no trading on Oct 24.
So Oct 25 could be a reversal- to-the-positive-day. Further, Saturn reaches its farthest distance, during this time.
Let us see the charts:
The red band tells us that we are in the lunar negative zone for the rest of October.So first observation, we are still in a "sell on rises market."
Nifty is seen hugging the 1x2 Gann Angle line. It will break the Gann Angle line if it crosses 5677 on closing basis.
It is also seen oscillating around the 23.6% retracement line, which is 5673.83.
Any break here will first take it to the 5641 support line and a further break will bring it to 5585 levels. This is also the next Gann support line of 1X3.
Any up-move from here on Oct 25 will face stiff resistance from 5751.
Volume is constantly reducing, from Oct 05 onwards.Nifty futures are still trading at a premium of about Rs 4/-. So no appreciable large scale selling has taken place in equities.Yet there is significant short build up in the futures.If the roll over is not significant there could be some short covering on Thursday.
At this point wave c appears to be a triangle also. The waves have become complex. We need to see how the next set of waves unfold before deciding whether a triangle or a diametric is forming in Wave 4 of Wave C of larger degree Diametric D.
Wave 4 has consumed 12 trading days so far, from October 05.Since Wave 3 had taken 20 days we need to look at a minimum of 21 days for wave 4. This means we have another 9 more trading days for Nifty in Wave 4.It looks like we have time for wave d and wave e also to be formed.
But then the most interesting part is to see these patterns emerge, is it not?
Meanwhile happy and safe trading ( where we don`t anticipate but wait for price to show us the way ) to one and all!