BUSINESS
Crude may extend gains until midweek
Stocks in Mumbai powered higher last week with global debt worries receding and focus shifting to a positive domestic growth outlook.
The Sensex rose by almost 3% to close at 17,570 while the Nifty finished at 5262. I had been cautiously positive about the markets prospects last week given the stabilising effects of the Jupiter-Uranus conjunction. Significantly, Monday’s fast-moving Venus aspect to Jupiter did deliver a good gain as predicted and indeed seems to have set the bullish tone for the week. I also noted the potential negative impact of the Sun’s growing association with Saturn and Ketu here, but thus far, we have seen little evidence of it.
Nonetheless, we should point out that the Sun-Saturn aspect was fairly close on Friday and that coincided with the only losing day last week, even if it was quite muted.
So while prices continue to drift higher under the expansive influence of Jupiter and Uranus, it is unclear how long this buoyancy might continue. Now that their conjunction is separating, it may be steadily losing positive energy, which might generate the necessary optimism to lift prices. And as Jupiter (7 Pisces) drifts further away from Uranus (6 Pisces), Saturn (4 Virgo) is moving closer to its next exact opposition aspect with Uranus on July 26.
These competing influences can be seen as a celestial battle royal over the next month as bulls and bears may take turns assuming control of the market at different times. We may get a hint of who will win this battle as malefics Mars and Saturn conjoin at the end of July. In mathematics, two negatives when multiplied make a positive. Astrology, however, tends to adhere to the more straightforward additive principle, where combining two negatives simply increases the overall negativity. Throw Pluto in the mix in August and you have the recipe for some very tense and anxious market situations.
This week begins with the transiting Sun (6 Gemini) forming a minor aspect with Jupiter-Uranus. The Sun symbolises vitality and confidence and when in aspect with optimistic Jupiter, it can induce more buying. By Thursday, however, Mercury will have entered Gemini and will come under the aspect of Saturn. While I may have overstated the possible downside of planets in Gemini thus far, this will be one to watch as both Sun and Mercury will come under the increasing influence of gloomy Saturn and unpredictable Ketu. So the week is likely to feature both of these extremes, with gains more likely early, and caution or volatility perhaps more likely towards the end.
Crude oil continued its recovery last week as it closed near $77. The early week Sun aspect to Jupiter is likely to extend the gains here at least until midweek. Sentiment may head south with the approach of the Mercury-Saturn pattern. Mercury is the planet of trading and commerce and when it associates with Saturn, the planet of caution, it tends to reduce speculative activity.
The big story last week was the all-time high for gold as it reached $1260. While I thought we would see some upside on Venus-Jupiter influence, the force and extent of this move higher was surprising. The Sun-Jupiter aspect this week is likely to take gold higher still, since Jupiter represents expansion. While the Sun is still vulnerable in Gemini, it is important to note that its transit of the sign of the twins will last until July 15. So there is a good chance of a pullback during that time.
The writer is a neo-Vedic astrologer specialising in predictive astrology. He runs the website www.modernvedicastrology.com
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