Throughout the entire period of week, the Nodes reverse and go direct.When they become normal again, markets may reverse.
Here are the aspects of the week:
February 22 Venus and Mars are conjunct in Pisces
February 23 Sun Saturn square
February 24 Saturn trines Venus
February 26 Saturn trines Mars
February 26 Sun Neptune conjunction
February 27 Neptune is at extreme distance
February 27 Moon reaches its maximum declination
I had discussed about " Effect dates" of aspects in the past. Effect dates of all these important celestial aspects are slated to become effective not this week, but from March 1st week onwards.
It is important to note that the ascendant starts travelling in Aries from March 03 onwards.
So astrologically, Nifty looks to move up, but with heavy volatility and countermoves.Daily gains maybe incremental but there maybe hugh intra day moves. In other words, despite so much hype about budget, we had not yet witnessed a strong rally.The market seems to be a bit circumspect, despite global cues becoming positive.
It is time we looked at our cycle charts..
We see the red cycle of 108 days slowing down as we approach February 28.The smaller blue cycle is already turning down.This is one more reason for heightened volatility.Interestingly after the budget there is a suggestion of a strong upmove and a topping out.
Neo waves wise, we are in wave e of the forming diametric or alternatively, we are in wave c of c wave which had begun 24 trading days ago, when Guv Rajan announced a surprise rate cut.
If 8997 gets taken out on good volumes, we may see an extended c wave.Or else, 9082 or 9140 should form a first resistance level from which Nifty could react down.
Hourly angles suggest that the congestion going on for a few days could be over and we may see an upmove. Feb 25 and March 05 seem to be important turn periods intra day wise.
When we closely analyse wave c of c, we see that the present leg is an impulse, with wave 4 forming a diamond shaped diametric. So wave 5 upwards is pending.Another 200 odd levels, budget or no budget.
Finally a look at long term weekly charts...
Weekly cycles suggest that there is more time correction to be done, for a top of 9800+ to be reached.So possibly we are moving towards an intermediate top in March?
Trade carefully, because the budget week is also the settlement week. Enough and more reasons for volatility.
Finally a look at long term weekly charts...
Trade carefully, because the budget week is also the settlement week. Enough and more reasons for volatility.
6 comments:
Sureshji thanks a lot for the analysis
thanks for update,can we see nift below 8700 prior new high
I do not think we will see below 8700 before new high. 100 points volatility could be expected. Budget expectations may give a positive thrust. Post budget, in the second week of March, expecting an intermediate high, in tandem with global markets.
and can we see 8700 prior new high then
Nitin, the bias is positive. It is NOT runaway positive, but volatile positive. After the budget, closer to the second week, we have several important signatures which are culminating and so Iam expecting an intermediate top then. That means markets may fall, a little more than the falls we have seen so far. Last leg up may be retraced faster. In the meantime, it is difficult to say upto which levels Nifty will fall before rising to the budget. Iam only seeing intra day volatility with global picture brightening. I do not understand why people have such a fixation to price levels. As a trader, simply trade in the direction of the trend that is all. When the trend changes, change direction. I achieve this by using trailing stop losses. I keep moving up my stop losses in an upward trending market and keep moving the stop losses down in a down ward trending market. When finally the market turns, I get stopped out with profits. So why bother as to what level it can go.
Or are you short in the market at a lower level? Then you should use different techniques. If you trade futures, then even if you are short at lower level, it should not pose any problems, as long as you have money to pay the MTMs.If you are into options, then Iam not the person who can comment, but other experts in options. I do not trade options.
thanks for update sir,i have hedged position i.e. 8900 march put and 9100 march call
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