Markets Weekly : Feb 16 - Feb 20 ,2009

WEEKLY NIFTY FUTURE OBSERVATION

Observation:-

--> Total OI of NIFTY FUT up 12.61%, NIFTY FUT up 4.08%, last week.

--> Out of NIFTY 50 Stock FUTS, 40 Stock FUTS closed positive, 7 Stock FUTS closed negative and 3 Stock FUTS closed flat last week.

--> OI of NIFTY 2900 CE is up 6.17% prices up 46.84%, NIFTY 3000 CE is up 11.22% prices up 46.87% last week showing not only short covering but buying too. OI of NIFTY 3100 CE is up 74.66% prices up 28.57% last week showing call writing. OI of NIFTY 2900 CE is 47.21 LK, highest OI in CALLs.

--> OI of NIFTY 2800 PE is up 11.32% prices down 63.39% and NIFTY 2900 PE is up 141.32% prices down 55.15% last week showing put writing. OI of NIFTY 2800 PE is 69.86 LK, highest OI in PUTs.

--> Total OI of FEB series CALLs is up by 13.90 LK to 2.06 CR. FEB series PUTs is up by 40.33 LK to 2.83 CR last week. FEB series NIFTY PCR (OI) at 1.36.

Astrological Outlook for the Week (16th February - 20th February 2009)

Indian Stock Market - Market likely to decline during mid-week no matter how the interim budget is.

Current Planetary Position - Astrologically, in Transit, 4 planets i.e. Mercury, Mars (Exalted), Jupiter (Debiliated), and Rahu (R) are placed in Capricorn. Exalted Venus is placed in Pisces, Sun, Uranus and Neptune are posited in Aquaruius, Ketu(R) in Cancer, Retrograde Saturn in Leo, Pluto (D) in Sagittarius and Moon is in Libra. Moon will Transit through Libra, Scorpio and Sagittarius during this week. Sun has entered Aquarius on 13th Feb. Jupiter- Rahu- Mars are in very close proximity. Jupiter-Rahu were at 0 degree conjunction on 13th and Mars is following them. This YOGA can bring good decline on 13th as well as 17th/18th when mars will be very close to Jupiter - Rahu. Saturn- Uranus opposition can also cause sharp swings in coming days.

Coming to few aspects in transit and with Natal Charts of NSE & BSE - In Transit there are very interesting and important aspects taking place this week. some of them are highly bullish while few of them can cause sharp decline. Tr Venus sextile aspect with Tr Rahu on 15th can cause sudden jump on/after 18th Feb. T Mars conjunction with T Rahu is another aspect on 16th can cause decline first and sharp upmove after 2-4 days. Similarly T Mars Conjunction with T Jupiter on 17th can cause sharp decline before conjunction and sharp rise within couple of days after the event. Tr Mercury conjunction with Tr Rahu on 22nd Feb can also make market spurt by 3%-4% much before actual conjunction. In NSE Natal Chart - Tr Sun Square aspect with Natal Pluto is bullish. Tr Jupiter Square aspect with Natal Sun on 19th in bullish for market. While T Mars Square aspect with Natal Venus is a bearish aspect. In BSE Natal Chart - T Sun trine aspect with Natal Venus is mildly bullish. Tr Venus conjunction with Natal Rahu on 21st can make market rise for 3-4 days. T Mars opposition with Natal Uranus on 22nd is also a bullish signature.

Moon's transit through Libra is a Bullish sign but Moon's entry to Scorpio can bring decline however modest reversal of trend is expected before Moon enters sagittraius. However Moon's effect are not to be seen in isolation but in totality with Bullish and Bearish aspects of other planets.

World Markets - Astrologically

CRUDE OIL / GOLD / SILVER
Crude Oil is likely to show volatility again in this week. After initial weakness in first 2 days, expect mildly bullish trend in Crude Oil till endof this week. Gold is looking volatile but on posituve side. Upward movement can be seen on 17th & 18th Feb.Early next week may see decline in Gold. Silver is also looking bullish this week again. Short Selling is not advised in both Gold andsilver this week unless there are clear signs of trend reversal.

US DOLLAR / INDIAN RUPEE ( USDINR)
Astrologically, It is likely to see 2 way movement during this week. Indian Rupee may show some strength in early part of the week but US Dollar is looking mildly bullish from 19th onward till end of the week.

US MARKETS
Astrologically, After See- Saw movement in forst 2 days, good decline can be expected on 18th Feb but there after US Markets may take upward U-Turn for restof the week. Jupiter-Rahu-Mars conjunction is likely to cause lot of volatility.

Weekly NSE INDEX (C-2948.35)

Resistance : 2980 / 3010 / 3050 / 3140

Support : 2920 / 2865 / 2825 / 2785 / 2750

Weekly BSE SENSEX (C-9634.74)

Resistance : 9800 / 9995 / 10350

Support : 9560 / 9450 / 9400 / 9165

Weekly NIFTY FUTURE (C-2946.15)

Resistance : 3010 / 3070 / 3135

Support : 2910 / 2850 / 2755

Weekly BANK FUTURE (C-4560.25)

Resistance : 4660 / 4760

Support : 4500 / 4405 / 4250

Conclusion :-

I expect NIFTY SPOT to trade very volatile next week. NIFTY SPOT Resistance at 2980-90 levels, 3010-20 levels. Upside is capped near 3050-60 levels. On down side, NIFTY SPOT Support at 2875-65, 2830-40 levels. Strong support at 2750-60 levels. Last 2 session trade showing no major change in OI of CALLs and PUTs.

Traders confused about direction of NIFTY but stock specific action will remain.