Treasure Hunting Map ( Nifty )

Hi Friends

Nifty saw some profit booking after a long consolidation of buying seen in the market that to with volumes, we saw a week of buying and a week of selling, thus in the end we are back to square one.

But if we look at the charts, this month we must be very careful, as per, this month in the history is seen as an black month, and if this time we cross this month at high levels, then we can see more high levels in the coming months and this may indicate a bull run.

If we undergo any correction, then this correction would be hard to recover and after the panic button is pressed then, it would be taking months for the bulls to recover from bed to fight back with the bears, as per this time the bears have created an force and ready for attack, but bulls are still strong, so be careful at all levels.

We would like to show a interesting chart and cut the session short.

Nifty is trading in a tight range bound situation, which indicates that, when this range is broken we might see some heavy moves which can be in favor of the bulls or in the favor of the bears, a brake below 4580 would make us touch 4350 levels and a close below 4350 would make us touch the all time lows 3920 and if those then the gap would be filled and black days ahead, but if we recover and cross 4720 - 4750 with high volumes on closing basis then the market may take a bull run and this time once again new highs for the year 2009 would be created.

Time would decide what will happen, but trade in small quantity as per this month is a crucial month and indicating the moves would be that difficult.

One can follow the map : -

Nifty buy above 4688 - 4724 - 4747 - 4769 - 4805 SL - 4655

Sell below 4645 - 4630 - 4608 - 4571 - 4535 - 4513 SL - 4575

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