Exalted planets in a horoscope are generally considered to be very good and strong but at times malefic aspects make the whole difference and may not give the needed results. Similarly, if the exalted planet is bereft of strength for any astrological reason, it may not give the desired results.
The Sun exalts in Aires, the Moon Exalts in Taurus, Mars exalts in Capricorn, Mercury exalts in its own sign Virgo, Jupiter exalts in Cancer, Venus exalts in Pisces and the known malefic, though actually not so in all cases, Saturn exalts in Libra. These are exaltation signs and the corresponding 7th sign become the debilitation sign. The deepest exaltation degrees are 10 for the Sun,3 for the Moon, 28 for Mars, 15 for Mercury, 5 for Jupiter, 27 for Venus and 20 for Saturn. Each planet assumes significance in its exaltation sign or debilitation sign i.e. highly favourable or highly detrimental depending on the placement of the planet concerned, aspect on the planet, degree-wise strength and how it is placed in other Vargas including Navamsa.
According to Prasara Hora Sastra, the Sun is exalted in Aires and is the most powerful on the 10th degree i.e. deepest exalted point and may be worst in its debilitated sign Libra at the same degree. Similarly, the position of other planets needs to be interpreted.
The Sun, the Moon, Mercury and Venus have only 7th aspect where-as Saturn aspects, 3rd, 7th and 10th houses, Mars aspect 4th, 7th and 8th houses and Jupiter aspects 5th, 7th and 9th house. Accordingly, the result of the planet would be different and the traits of the houses concerned shall be effected either beneficially or otherwise depending on the force of planets concerned including the exalted planets, debilitated planets and when they are in retrograde motion.
The Sun in Aries (exaltation sign) can only be aspected by Debilitated Saturn and that when Saturn transits Libra. The Moon in Taurus (exaltation sign) cannot be aspected by any exalted planet as none of the planets exalts in Scorpio. Venus in Pisces can only aspect exalted Mercury but that cannot happen as Mercury and Venus can never by 180 degrees apart from each other. Similarly, the aspect of other planets can be discussed.
Without multiplying examples of exalted planets, I would just refer to the effects of the Moon in Taurus. Male natives born with Moon in Taurus are found to be steady, have controlled natures and tempers and may lose balance of mind if aspected by Mars/Saturn/Rahu. They make good citizens and assume responsibility easily and naturally. Though inclined to be lazy but will work hard, fond of music and really passionate! And are fond of family life specially of brothers/sisters. Unless the position is improved, the native on marriage shall have more daughters. Female Natives born with the Moon in Taurus are usually good looking have small round faces, eyes are lustrous and beautiful and have nicely formed lips. The ladies are stubborn but not aggressive, shrewd but not clever and cannot be ranked 'brilliant'. Normally, such ladies are pleasure loving and fond of society and are fond of opposite sex. Because of their sex appeal and beauty, the husband is dominated. They eat less to keep the figure lean. Mark the difference between male and female natives with the Moon in Taurus.
According to learnd and respected late Shri J.N..Bhasin, it is stated in his book 'Art of Prediction’ that all retrograde planets should be considered strong. He has referred to Sarvartha Chintamani where it is stated that during the ruling period of a Retrograde Jupiter, the native gets much wealth, sons, and wife and also gets favour from the Government. However, this is subject to the condition that Jupiter should not be under heavy afflictions. He has also referred to Phal-deepika where it is stated that a retrograde planet possesses strength when he is retrograde. It is stated that when 5th lord and 5th house, 9th lord and 9th house are weak, Retrograde Jupiter, well placed, is capable of giving male issue (son.) Your views on this principle and mentioned below on Retrograde planets are welcome.
Whether Rahu and Ketu have exaltation position, there is difference of opinion among the learned ancient writers. Actually, some of the books show no indication though according to Prasara Hora Shastra both the Nodes i.e. Rahu and Ketu have aspects (5th, 7th and 9th).And, Rahu exalts in Taurus and Ketu exalts in Scorpio. But, according to Sarvatha Chintamani, Rahu exalts in Gemini and Ketu exalts in Sagittarius. However some of the modern writers including H.R. Seshadri Iyer share the views of Prasara. This point is left open and your views are welcome.
The other crucial point for consideration is when the exalted or debilitated planets become retrograde. One theory is that the retrograde planets give the results of previous houses also. In other words retrograde planets would effect six houses including aspects in the case of Jupiter, Mars and Saturn, Mercury and Venus when retrograde would effect 4 houses. The other and disputed theory is that the retrograde planets give the results of 'exalted planets'. In my experience, this had not been found true. However, in his book 'Practical Horary Astrology', the learned and respected Dr. B.V. Raman had stated that benefic i.e. exalted planets when retrograde continue to be e benefic although they may make the process of achieving the objects in view a little erratic or evasive. One may experience, I would say that during the transit of retrograde planet, one has to visit at least twice for the same purpose for some reason of the other.
It is not necessary that exalted planets would make the native to hold very high position. The following charts of VIPs show that few of them had exalted planets and others had none:
Shri Morarji Desai Chart: lagna- Gemini , Jupiter (exalted) in Cancer, Saturn (debilitated) in Libra, Venus, Mars (exalted) and Mercury in Capricorn and Sun/Rahu in Capricorn with Moon and Ketu in Leo. This is a chart which shows exalted Jupiter aspects exalted Mars or vice-versa.
Dr. B.V.Raman (DOB-8th August,1912,TOB-7.42 P.M. Bangalore Chart: Lagana- Aquarius, Rahu in Pisces, Moon and Saturn in Taurus(Moon exalted), Sun in Cancer, Venus, Mercury (R) and Mars in Leo, Ketu in Virgo and Jupiter in Scorpio.
Sardar Patel -The Iron man of India: Chart: Lagna-Aries, Moon in Taurus(exalted), Ketu in Virgo, Sun (debilitated), Mercury, Jupiter and Venus in Libra, Mars(exalted) and Saturn in Capricorn.
Mrs. Indra Gandhi - The well known Prime Minister of India Chart: Lagna-Cancer, Saturn in Cancer, Mars in Leo, Sun and Mercury in Scorpio" Venus and Rahu in Sagittarius, and Moon in Capricorn.
Pt. Jawahar Lal Nehru- Chart: Lagna -Cancer, Saturn in Leo, Mars in Virgo, Venus and Mercury Sun in Scorpio, Jupiter and Ketu in Sagittarius Moon and Rahu in Gemini.
John F. Kennedy: - DOB-29th May,1917-TOB-3.01 PM- Chart: Lagna Virgo, Rahu in Sagittarius, Mars and Mercury in Aires, Sun, Venus and Jupiter in Taurus, Ketu in Gemini, Saturn in Cancer, Moon in Leo.
Queen Elizabeth II: - DOB-2nd April,1926-TOB 1.40 GMT-London Chart: Lagna Capricorn, Mars (exalted) in Capricorn Venus, Jupiter in Aquarius, . Mercury in Pisces, Sun in Aires exalted), Rahu in Gemini and Moon in Cancer.
Prince Charles: - DOB - 14.11.1948. Chart: Lagna-Cancer, Saturn in Leo, Venus in Virgo, Mercury, Ketu and Sun in Libra (Sun debilitated), Mars and Jupiiter in Scorpio, Jupiter in Sagittarius, Rahu and Moon Aires.
The above horoscopes speak itself of the position one can attain with exalted planets and also when there are no exalted planets.
Briefly, according to Bhrigu Sutram, when the Sun is exalted in 10th (Cancer Lagna) gives rise to an excellent Dhanayoga making the native prosperous, wealthy and a native of high status. Even for Aries Ascendant and the Sun is in Aries, vary favourable results are indicated because the Sun becomes lord of 5th house (trine) adding more dignity. The Moon in Taurus(exaltation sign) can give the native a high position including distinct professional achievement at the young age of 18-20.
Mars in 10th house in sign of exaltation (Capricorn) gives rise to Ruchaka yoga, the native shall be acclaimed by the people and will be long lived.
Similarly other planets in exaltation need to be interpreted with reference to the house in which placed, how they are aspected or conjucted etc. and what is the strength of the exalted planet from various astrological principles.