Treasure Hunting Map (Nifty)

Hi Friends,

Once again we have rocked and minted in tons, for the session ending for the day, Reliance Industries was the super hero for the day.

Nifty as said was consolidating at levels and no fresh moves were seen in the index, due to increase in volatility index, its being difficult to crack down the exact levels for stocks and indexes, but what ever is the market condition, red or green, if we look at our report card in the end of the Day, we are in green.

Nifty closed above the previous levels, and intact in PREMIUM also, but the fight between the bears and the bulls would continue, we would make a note once again which we had posted in our previous article, that the trend to change and go in the hands of the bulls and bears, nifty would have to cross 4855 and brake 4730 levels accordingly to make fresh moves.

Volumes are back in the market and crude and gold are also trading at high levels, we have seen in the past sessions that DOW is able to close in green, but not able to cross the mark 9560 levels, as we had posted and made a note that for the rally to continue in DOW, it has to close above 9560 levels.

Do check an article on Dow Jones in the coming sessions.

We would like to cut it short if we look at the charts, nifty index has shown continuous buying like the old sessions and then profit booking at the next week sessions, this may be continued for this session also and nifty have consolidate and then again bounce back and touch all time new highs.

Buy Nifty above 4819 - 4831 - 4840 - 4849 - 4861 - 4873 SL - 4805

Sell below 4798 - 4790 - 4778 - 4766 - 4757 - 4748 SL - 4814

Trade with small quantity and we are likely to test new highs for the year once again and then a bounce back after the trap may happen, as per buying can be done in any stock or index just for few days not for all the days, one day or the another the stock or the index has to face profit booking and we are expecting the same in the nifty index very soon.

The bulls might take over the game, but very soon the bears would take over the game.

Buy at dips and sell on rallys and wait for dips to buy at the right price is the best strategy for investors also and for traders also and book profits at rise and book entries at dips in simple one liner.

Nifty may consolidate for few sessions before making all time new highs and touching 5000 mark.

Trade with strict stop loss in the coming sessions.

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