Treasure Hunting Map - 28th

Hi Friends,

Nifty is trading at it peaks and we want to touch the peck to, Dow Jones is out performing Nifty, Today we saw Asian Markets touching new highs, Nikkie has crossed 10000 levels and Hang Sang has crossed the hurdle for 20000, that means all the markets have touched there peaks accept our Market.

Our Nifty high was at one time at 2550 levels and after the recovery had started we had seen an high of 4700, and if we look at the highs for this month we just touched 4598 approx levels only, thus we are still below the line.

So this means that we are still left to touch and test 4700 levels, and this time if we close above 4700 levels, we can make new all time highs after October lows, this means a new bull run is likely to start at the right time.

But if we see at the market as an whole, there are many hurdles in between, for instance, yesterday we saw that Reliance Industries the major part in the Market has shown bad results, which can hammer the market.

If we look at the sectors, then there are some sectors which are not performing, like the financial sector and tomorrow is the day when RBI is going to give some light for the banks, and if thats a black light in the dark area then kaboom banks expectations won't meet and we may see the financial sector to be under pressure and thus market under pressure, thus one has to be careful, the game is between the bulls and the bears, one cannot be held a pure winner in this volatile market as of now.

Nifty has given a close above 4550 levels around 4572 is the closing in the cash market, which can be in the favor of the bulls, but bears are still there to fight back and the ride to the top cannot be a straight one as per hurdles and speed breakers are likely to be felt.

Trading Strategy to hunt Nifty can be : -

Nifty buy above 4584.53 - 4603.20 - 4618.65 - 4634.10 SL - 4572
Nifty Sell below 4550.40 - 4534.95 - 4516.28 -4497.60 SL - 4565.85

Expiry is just near by around and volatile index is likely to increase, keep eagle eyes on the closing and trade with strict stop loss, if Reliance industries shows weakness and brakes 1900 levels tomorrow then the support for reliance would be around 1850 levels and we may see a slip to, but buy on dips is the best strategy, when markets slip its the right time to invest and when at highs then time to run, that's the best strategy.

For the stocks to watch out and hunt would be available in the Stocks Map Hunt.

The above mentioned information are our personal views and educational purpose, and one has to trade with strict stop loss and before making any decisions one must take advice from there financial consultants, we hold no responsibility and trader is trading at there own risk.

Regards

Treasure (Captain)