Treasure Hunting Map (Nifty)

Hi Friends,


Nifty is seeing some selling pressure at high levels, which indicates on the charts that, nifty is trying its best to cross the upper level mark but the selling pressure is hammering it downwards.

As we had pin pointed in our previous charts and in this chart which is displayed below, that a few sessions in the past we had just seen heavy buying at higher and lower levels both, the volumes have also increased all of a sudden, and this years high by nifty is 4743 and if we look at the high of the last session it was 4735 on the cards, which clearly indicates that a barrier is there at the 4750 mark.

Nifty has crossed the barrier at 4720 levels, as we had warned in the charts only above 4720 - 4750 we can straight head towards 4830 levels and the next hurdle can be found around 4850 levels and next major hurdle for the bull run would be after crossing 4920 levels, a cross at those levels would clearly indicate all time highs and we are in a bull run.

As of now after a heavy buying session in the past sessions, we would be under going some correction and this correction would be just like a consolidation, if we see volumes then we can indicate that after the downside some up side is left and the bulls can come back, but one can exit longs, if nifty brakes 4550 levels on closing basis as per we would touch 4350 levels then, and this time if we brake 4350 levels, then 4100 would be likely to be seen for this expiry.

So traders a warning be careful, as we had warned earlier also, this may be a trap, and that became a trap, but there are no one way traps, we may see some traps for the shorts also as we had seen traps for longs, so one can trade according to 4350 and 4550 levels, and buy at dips is the best strategy.

If we look at the charts, a bearish pattern is formed and if we see at the other world wide indexes, Dow is under correction for the month of September, and the other indexes like Asia and Hang Sang are also under black cloud now, so we are likely to follow the same pattern and we are expecting a gap down.

SGX Nifty has opened around 4550 levels and now trading at 4590 levels, and a low of 4548 was seen in the index, which indicates that we are likely to take a support at 4550 levels.

Hunting Map for Nifty can be : -

Buy above 4680 - 4707 - 4748 - 4789 SL - 4650

Sell below 4613 - 4572 - 4545 - 4518 SL - 4635

Points to be noted are the nifty levels, the volumes and eagle eyes on 4750 - 4550 - 4350 - 3920 levels.

So one can start buying in small quantity from 4550 levels til 4350 levels to see a bounce back from either levels and sell at a rally, and do keep a stop loss at 4350 levels on closing basis, sooner or later markets would recover as we had said earlier a warning that sooner or later the markets are going to see a sell off and the result is in front of you all.

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