Benefic Venus moved into Sagittarius on Saturday, thus providing a firmer basis for Jupiter’s optimism
Indian stocks made modest gains last week as bank lending normalised and a sense that the worst of the economic crisis had passed.
The leading indices rose between 2-3% as the Sensex closed Friday at 9964, while the Nifty stood at 2973.
I was again overly pessimistic about the market as I had forecast a decline and the formation of some kind of significant low late last week.
While I was correct in isolating the late week as the low, market levels were much higher that the low of October 27.
My bearish bias stems from some very powerful negative planetary patterns that still loom over this market.
For the moment, it seems they have receded and allowed some measure of confidence to return.
Look for stocks to move higher this week as Jupiter is strengthened by the favourable influence of Uranus.
Actually, there are a number of favourable influences this week and into next that suggest that gains may be noteworthy. Benefic Venus moved into Sagittarius on Saturday thus providing a firmer basis for Jupiter’s optimism.
Look for entertainment and recreational shares to receive a boost from this placement.
Mars also changed signs over the weekend as it entered Scorpio. Since it rules this sign, it expresses its energy more naturally with fewer negative consequences.
Construction and metal-related stocks may perform better from this strengthening of Mars.
Wednesday and Thursday look strongest as the Moon enters Aries where it receives the helpful aspect from Jupiter.
While the planets may favour stocks in the very short term, I see this as a bear market rally.
Much of this November rally can be attributed to Jupiter’s tightening aspect to Saturn.
Saturn’s natural proclivity towards fear and sadness is being transformed by the expansionary and comforting quality of Jupiter.
While it is only one factor out of many, it may be worth noting that this aspect becomes exact on November 21. After that, the market may no longer enjoy the protective effect of Jupiter.
As forecast, crude oil fell last week and opens trading Monday at $61.
With oil’s significator, Saturn, coming under increased influence from Jupiter this week, prices should rise.
$70 is very possible this week, and the rally may well continue into next week.
Gold managed modest gains last week and begins Monday at $734. I had been bearish on gold due to the debilitation of the Sun through its transit of Libra.
It now appears that the Sun’s recent entry into Visakha late last week has offset the negative effects of this constellation. With its lord Jupiter in strength, Visakha will likely give a boost to the Sun and thus gold should rally this week.
Tuesday and Wednesday in particular look very positive as Venus (money) conjoins Pluto (power), which may compel more investors to take positions in bullion.
The rupee gained more ground against the US dollar last week and opens at 47.41. Look for further gains this week as markets continue to return to a more normal footing. I would not be surprised to see 46.5 at some point in November before backing off again sharply in December.
Christopher Kevill is a neo-Vedic astrologer specialising in predictive astrology.
He runs the website www.modernvedicastrology.com.
