Treasure Hunting Map ( Nifty )

Hi Friends,

Today was the last session of the Expiry for the month of August, from tomorrow a new session is going to start for the month of September, the opening bell for the month would decide the rest of the trend for the whole months session, so one shouldn't take any fast moves, and one must be careful now at high levels, no fresh positions are suggested to be taken at these levels.

We would again like to remind you of the note that, for the up trend to continue one has to see nifty closing above 4730 levels, other wise fresh short positions can be created, as per the volumes of the end of the session were impressive and the upside and control for the bulls would be only above 4730 levels, so one can make fresh positions only above the range brake out.

If we brake 4730 then bulls and if not then the control is in the hands of the bears and we may see some correction in the coming week before making any upsides, if we look at the chart of Nifty we would find some impressive hidden hints : -


One can make fresh short positions with strict stop loss at 4730 levels for the target of 4550 and if we brake 4520 on closing basis we might test the old levels which are 4350 levels and then the new trend would be printed in the up coming sessions, this is a view for short term and if we look at the session which is tomorrow one can trade as follows : -

Buy above 4698 - 4715 - 4729 - 4743 - 4760 SL - 4680

Sell below 4670 - 4666 - 4652 - 4635 - 4617 SL - 4685

As we had warned in our previous blog that nifty expiry would be around 4655 levels, the levels were not exact, but the trend was intact and we closed the expiry below 4700 levels.

So again we have provided a warning, so be careful :).

So one needs to be careful and trade in small quantity. One should also follow strict stop loss in there hunting.

We would like to wish all the Pirates a very all the BEST.

Disclaimer : -

The above stocks are my personal views, one may see that trading in the market involves risk and thus one may trade in the stocks at there own risk, we won't hold any responsibility.

Regards

Treasure Captain
www.moneybaghunting.blogspot.com