I have Black Mission and Italian Black abt 6 ft  height of each being potted in large containers outdoor for 2 years and now they are about to wake up from dormant. I am thinking to put Sunshine brand Peat Moss on top on of the soil then on top of the peat moss, I will add some mini nuggets to maintain moisture during summer. so I do not have to water them almost everyday What do you think ?

Hard to say as if you live in California it's going to be a lot different than if you lived in Alaska. Since you have not said or have in your profile where you are, it is just about impossible to give advice.

Due to sunny day or not, it is guess work to tell the moisture level in soil.

I think that it is better to get moisture/PH meter to filter out all guess work.

not sure this inexpensive tool work or not for $5 USD.

http://www.amazon.com/Moisture-Meter-Light-Test-Function/dp/B007FMVOVK

I ordered this from China website for $3.3 but it will take one month to arrive here, Not sure that you can find it from dollar store locally.

I have used this for the past year it seems to work well. I do recommend this as it helps eliminate over watering. Bought mine at home depot.