Treasure Hunting Map ( Nifty ) - 30th

Hello Pirates

Nifty yet again opened at a gap up note & whole day nifty was able to sustain above 4980 levels & in the end finally closed above 5000 mark in spot, but the main concern is whole day nifty was trading in Discount & premium was not available for a single second of the day.

Profit booking was seen in State Bank of India, but the head of the market was able to hold the market, you know which stock am I talking about, yes, right, Reliance Industries made impressive moves & in the second half of the day made new highs, as Reliance Industries was making new highs there was a another stock, which was following its tracks, it was Educomp.

As per this week we have less session of trades & global ques are just mixed, sometimes they are trading & over reacting in Green & on the next day they are trading in RED, if we look at the dollar charts also, we have noticed that its not able to brake its lows & seems that dollar is getting back on track, which is a major bear for all the markets & even for commodities, if we look at dollar it reacted from 47.75358 to 48.11533, but we were able to close in green that was surprising, but we saw discount in nifty.

Treasure Hunting Map for Nifty : -


Buy Nifty above 5013 - 5020 - 5031 - 5044 - 5056 - 5074 - 5092 SL - 4990

Sell Nifty below 4980 - 4970 - 4952 - 4934 - 4921 - 4909 - 4889 SL - 5000

Nifty is trading in a tight range of 4920 - 5011 on the upside, for a new brake out for upside nifty has to brake 5050 on closing basis & on the downside nifty has to brake 4880, after which the territory is in the hands of the bears, but as per this week is a short time frame, thus we don't expect any big moves for the session.

Just keep eagle eyes on 5011 - 5039 - 5050 - 5120 - 5150 on the up side & on the down side 4980 - 4960 - 4950 - 4900 & 4860, any side brake out will give markets a direction.

Nifty traders a strategy can buy nifty at 4920 - 4930 SL 4890 on closing basis & targets 5000 - 5011 & sell around 5030 keeping a stop loss at 5045 on closing basis for targets of 4980 - 4960 - 4930.

Volatility is going to be increased in the market & until Reliance which is the Key of the market is locked at its range, till then we are safe, so do keep eagle eyes on Reliance Industries.

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

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