Sunday, September 20, 2020

For week of September 21 to 25, 2020

As expected Nifty continued to move slowly this week and despite the late sell off, managed to close above the 20 SMA.Both 20 and 50 have crossed 200 SMA and this continues to be bullish.
However as observed last week, with Nifty weakening upto 50 SMA last week is pointing out to internal changes in the bullish structure.
Current cycle has completed 34 days and we expect a top either this week or next week.

Current up-move has completed 7 days. If we observe the previous two upmoves and how much they have moved in 7 trading days, we can see that.,
Between August 3 and August 12, Nifty had moved up by 439 points.
Between August 14 to 25, in the next up-move in 7 days had moved by 414 points.
In the current up-move, from Sept 09 to 18, Nifty had moved up by 398 points. So the upmoves are slowly losing momentum.

In the 14 days since August 31, when Nifty made a recent top, it had managed to retrace only upto 61.8 % only.
Clearly the bullish momentum is a little subdued.
Astro wise, we are now entering a crest zone. We had pointed out the possible effect of Ketu moving into Scorpio in the previous post on Nifty.
Effects of Sun in a trikona with Pluto and Saturn also should point out to a top formation.
Similarly the effect of Sun opposition to Neptune also may manifest as a top soon.

Jupiter had turned direct on September 13...This also is pointing to a crest before September 25
From September 28th, Mars will begin to square Saturn, Pluto and later on Jupiter.
This calls for caution.
Trade safe!


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