Nifty opened the week at 11270, a good 56 points above previous week close of 11214.Moved up to 11337 to 11373 range but met with continued supply and so declined.Bull power decreased on Thursday and by Friday, Nifty declined 122 points and closed at 11178, 36 points less than the close of August 07th.
After May 22nd, this is the first time we are seeing two red candles on the weekly in three weeks.It is a sign of increasing volatility.
Coming to Daily charts,
Nifty has declined about 50% of the up-move from August 03.Sub cycle wise we have completed 9 days from the cycle bottom of August 03.We may expect this cycle to bottom out early in the coming week.Then the next up-cycle may commence.Once Nifty closes above previous cycle top of 11341, up-move may accelerate.
Technically, Bank Nifty is weaker than Nifty.As shown above, a decline to 21000 may be expected this week and then the next bull cycle commences.23000 needs to be taken out convincingly for Bank Nifty to accelerate its move up.
On August 04, Mars was at a Kendra to Jupiter.On August 13, Mars squared Pluto and on August 24, Mars shall square Saturn.and today evening, Mars will move into Aries, a house owned by Mars.Mars moves into Aries in Navamsa also which makes it very powerful
Mars is in Ketu star. Ketu is also in Ketu star but in last two degrees,moving towards the exit of Sagittarius.Astrologically such a placement is called Gandantha and makes the planet unstable.
By August 19th, Sun, Mercury and Moon also will be in Ketu star.Mars is already in Ketu star. So the instability of Ketu can get translated to these other planets for a short period of time.
On August 16/17, Sun and Mercury become conjunct and they both trine Mars! So the energy flow could be intense.
Add a Uranus retro also this week on August 17th.Uranus causes sudden upmoves or crashes like the one we saw on Friday.Uranus causes the markets not to respect levels for a brief time. So we need to be cautious.
This could also be a great buying opportunity for the next bull cycle.
Sectors ruled by Mars, such as Construction, Engineering, Defense and Metals should shine after the hiccup caused by Ketu.
Since Rahu is also in Mars star, we may expect Chemical Industry also to do well.
This is a list of ten companies which have appreciated the most against Nifty since June 12.Check the liquidity and fundamentals before investing. The move has several more legs, since Rahu will be spending more time in Mars star.
That is all for this week folks! Have A Great Week!