Treasure Hunting Map (Nifty)

Hi Friends,

After the gap down opening and slipping of China Index created a black cloud over the Asia indexes, in the opening bell Hang Sang was trading in red but the Nikkie index was holding and trading in green, but a thunder storm was formed on all indexes and the markets starts slipping more and soon we saw the Nikkie index trading in red.

In the opening bell we saw a gap down signal as per the SGX Nifty, but nifty at the opening bell opened around 4730.85, just near to the previous close and at the very crucial level, but after the opening bell we saw some slipping from higher levels.

Soon after the opening bell and the china slipping, it drag all the indexes with it and the china closing we saw an 6.5% down side.

Nifty has to cross 4730 levels to test much higher levels and a brake below 4550 levels can make nifty test 4350 levels and if this time 4350 levels are broken then we might test 3950 levels and if those levels are broken then the gap which has to be filled created at the time of the circuit would be filled, thats a long term view, as of now to cut it short keep eyes on 4550 and 4730 levels.

If we look at the charts of Nifty : -

Sell of was seen after many session of buying, crude oil is also under correction and the commodities sector are the major draggers which are cracking the world wide markets.
We had seen some recovery from lower levels, after a major sell off which indicates that people took the correction as an oppurunity to buy at dips and one can create long positions with stop loss of 4550 levels and can exit at highs only when we cross 4730 levels, tomorrow is also a day for NHPC, the IPO is going to get listed, so d

Hunting Map on Nifty can be : -

Buy above 4696 - 4716 - 4744 - 4771 SL - 4680

Sell below 4648 - 4621 - 4600 - 4580 SL - 4675

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