Markets Weekly For 13/04/2009 To 17/04/2009

Weekly Market Outlook (13/04/2009 – 17/04/2009)

NIFTY (3342.05)

Resistance : 3395 / 3445 / 3480 / 3550 / 3575 / 3740

Support : 3310 / 3270 / 3195 / 3140 / 3105 / 3045 / 2890

SENSEX (10803.86) :

Huge Supports At 10620/680 , if This Sustained On Closing Basis , Markets Are In Bullish Zone

Resistance : 10970 / 11120 / 11270 / 11345 / 11500 / 11760

Support : 10680-20 / 10555 / 10305 / 10230 / 10045 / 9695

Astrological Outlook for the Week

Current Planetary Position - Astrologically, in Transit, 2 planets i.e. Mars, and Neptune are placed in Aquarius. Sun and Exalted Venus (Retrograde) and Uranus are placed in Pisces. Mercury hasalready entered Aries on 06th April. Ketu is transiting in Cancer. Moon will be in scorpio on 13th April. Saturn (R) continues to be stationed in Leo, Pluto is in Sagittarius while Debilitated Jupiter and Rahu are placed in Capricorn. Moon will transit Scorpio, Saggitarius and Capricorn during this week. Some important events during the week are that Sun will enter Aries on 14th April. Mars will enter Pisces on 15th April and most Important is that Venus will get direct on 18th April ( Retrograde Venus was one of the important factor of Nifty Rise from 2550 since 09th March)

Coming to few aspects in transit and with Natal Charts of NSE & BSE - In Transit , Tr Sun sextile with Tr Mars on 10th is bullish, Tr Mars sextile with Tr Jupiter on 10th April is also bullish. Tr Mercury Trine aspect with Tr Pluto is bullish for 13th-15th April. Tr Mercury Square aspect with Tr Rahu can cause volatility on positive side. Tr Sun sextile aspect with Tr Uranus on 14th is also a bullish signature. Tr Mars Conjunction with Tr Uranus in mildly bullish. In NSE Natal Chart - Tr Sun Square aspect with Natal Neptune is mildly bearish. Transit Mars Sextile aspect with Natal Neptune is mildly bullish. Tr Sun opposition to Natal Mercury is mildly bearish. but Tr Mercury sextile aspect with Natal Saturn on 12th is bullish for next 2-4 days. Tr Sun Square aspect with Uranus is bullish for 13th April. Tr Mars sextile aspect with Natal Sun can cause decline early next week. Tr Mercury opposition with Natal Sun is a bearish aspect. In BSE Natal Chart - Tr Mars quincunx aspect with Natal Jupiter is mildly bearish. Tr Sun trine aspect with Natal Mars is mildly bearish. Tr Sun sextile aspect with Natal Saturn is on 15th can give positive effect. Tr Mercury sextile aspect with Natal Mercury is slightly bullish.Moon's transit through Scorpio is mildly bearish initially but to bounce back later.It is likely to volatile during it's transit through Saggitarius and bearish when it transits through Capricorn. However Moon's effect are not to be seen in isolation but in totality with Bullish and Bearish aspects of other planets.

NIFTY FUTURE

Trend : Volatile
Total OI of NIFTY FUT up 10.32%, NIFTY FUT up 4.12% last week. OI of NIFTY 3400 CE is up 75% prices up 101.72%, NIFTY 3500 CE is up 112.08% prices up 109.79% and NIFTY 3600 CE is up 435.63% prices up 136.80% last week showing call buying. OI of NIFTY 3100 PE is up 43.16% prices down 51.19%, NIFTY 3200 PE is up 115.15% prices down 48.60% and 3300 PE is up 445.96% prices down 44.35% last week showing put writing.

We expect NIFTY SPOT to show up move followed by profit booking at higher levels next week. NIFTY SPOT Resistance at 3440-50, 3490-3500 levels, strong resistance at 3550-60 levels. On down side, NIFTY SPOT support at 3300-3310, 3260-70 levels, strong Support at 3140-50 levels.

SECTOR WATCH : SUGAR
Trend : Bullish
Total OI of BAJAJHIND FUT up 30.20% prices up 17.45%, BALRAMCHIN FUT up 14.62% prices up 14.71%, RENUKA FUT up 11.59% prices up 5.79% and TRIVENI FUT up 14.07% prices up 22.35% last week. Sugar counters showing long positions build up in last week. We expect positive move in coming week.

SHIPPING : Trend : Bullish
Total OI of GESHIP FUT up 27.64% prices up 2.09%, MLL FUT up 49.65% prices up 21.81%, and SCI FUT up 180.98% prices up 9.47% last week. Shipping sector stocks showing long positions build up. We expect positive move in coming week. SCI FUT looks most strong.

NIFTY FUTURE OBSERVATION
Observation:-
1) Total OI of NIFTY FUT up 10.32%, NIFTY FUT up 4.12% last week. 5th consecutive week positive close.
2) Out of NIFTY 50 Stock FUTS, 42 Stock FUTS closed positive, 2 Stock FUTs closed negative and 6 Stock FUTS closed flat last week.
3) OI of NIFTY 3400 CE is up 75% prices up 101.72%, NIFTY 3500 CE is up 112.08% prices up 109.79% and NIFTY 3600 CE is up 435.63% prices up 136.80% last week showing call buying. OI of NIFTY 3400 CE is 32.06 LK, highest OI in CALLs.
4) OI of NIFTY 3100 PE is up 43.16% prices down 51.19%, NIFTY 3200 PE is up 115.15% prices down 48.60% and 3300 PE is up 445.96% prices down 44.35% last week showing put writing. OI of NIFTY 3000 PE is 56.83 LK, highest OI in PUTs.
5) Total OI of APR series CALLs is up by 37.66 LK to 2.36 CR. APR series PUTs is up by 46.83 LK to 4.73 CR last week. APR series PCR (OI) at 2.00. Total OI of APR series PUTs (single series) at 4.73 CR, higher than total OI of NIFTY FUT (all series) 4.39 CR.

World Markets - Astrologically

Crude Oil / Gold / Silver

CRUDEOIL likely may remain under pressure for 1-3 Days during this week but expect Crude Oil to bounce back any time from 07th April to 22nd April 2009. As already mentioned 2 Weekly close above US$ 51/ barrel will set higher targets of $67-$69 which will be achieved in coming weeks. Regarding GOLD and SILVER, Both Gold and Silver will try to stage come back early this week but overall strategy should be to book profit on every rise from 11th April till 20th April 2009.

US Dollar/ Indian Rupee ( USDINR)
Astrologically, Indian Rupee may turn weak against US Dollar from 08th April till 15th May 2009 with occasional move against US Dollar in between around 17th-21st April 2009.

US Markets
Astrologically, As already mentioned about a month back that US Markets are likely to be positive till 8th-10th of April despite occasional declines. Now with present planetary configurations, both DJI and NASDAQ can remain volatile to bearish between 13th to 19th but likely to bounce back till 26th-28th April. A significant corrective decline can be expected after 26th April 2009.

Dow is also supportive at the moment and has settled above the crucial 8000 mark. The touch area come at 8200 +/- 20 points and then at 8582 – 8910 which if broken can take it till 9760. If Dow moves above the mentioned levels then we can hope that Sensex also would move up instead reeling under election pressure.

Conclusion :-
I expect NIFTY SPOT will show up. NIFTY SPOT Resistance at 3440-50, 3490-3500 levels. Profit booking expected between 3500-3550 levels. NIFTY SPOT support at 3300-3310, below 3290 levels, next target will be 3260-70 levels.