Treasure Hunting Map - 30th

Hi Friends

As we had predicted a boom is yet to happen and we say a boom in today's session, were nifty broke more than 100 points on intra day basis, Nifty is still strong only when we close above 4620 levels and a close below the danger point has triggered danger in the up coming sessions.


A major levels which was in favor of the bulls has been broken and the time it broke nifty slipped like zoom, what an intra day move that was, all were not expecting the same, but we had said in our article that below 4520 bears are surely to fight back and this time the rule and the power of the attack would be more then before and the results were in front of you.

In todays session one can see a low of 4420.80 and a high of 4573.85, which clearly indicates that if we close above 4580 levels the bulls would gain power and for the bull run to confirm we have to confirm a close above 4620 levels. Nifty is likely to take support at 4420 levels, which once broken, bears may get full control over the market and take a stand and hit the bulls with more force than before.

As we had predicted the crude oil prices, they had touched an high of 69$, where we say some profit booking taking place and thus the markets reacted to the commodities and now we see the crude oil at around 65$, which is a impressive downside all of sudden.

Crude may take support at 63$ which once broken next support is at 59$, thus markets may wait and watch the moves and then only take moves.

Trading Strategy for 30th of July can be : -

Nifty buy above 4520 - 4543 - 4584 - 4620 SL - 4508,

Nifty sell below 4480 - 4467 - 4431 - 4390 SL - 4505,

Tomorrow is the 30th of July, where we are going to end the session for July, thus roll overs for the month of augest are likely to be decided tomorrow, if nifty is able to close above 4520 levels then we can surely expect a nice session in augest, or else a close below 4460 levels would create a cloud of thunder for the month of augest and we may se some slipping in the up coming sessions as per crude oil is also showing signals of profit booking and Dow Jones is also trading in red for few sessions which was in green continously for so many sessions, but ya if we see a correction which takes us back to 4300 levels to test, then we are sure that nifty is in an range bound situation as of now and break out on nifty will prove a new rally for the bears or for the bulls, so take home as much as you can as per timing is the major concern for now.

Trading in the share market involves risk, one is adviced to trade in the market with there eyes open and strict stop loss, the above mentioned information is my personal views, and one may take advice from there financial adviser before taking any final decisions as per we hold no responsibility.

Regards

Treasure ( Captain )
www.moneybaghunting.blogspot.com