Treasure Hunting Map ( Nifty )

Hello Friends,

First of all we would like to congratulate all the Pirates ( Investors & Traders ), at last all of have seen the 5000 mark on the Index after so many months, we had heard of this target by many analysts since a very long time, but it never came & stop losses were hit, but this month which is said to be the worse month of the year proved to be the best month of the year & we saw 5000 mark on the screen.

So all time new highs have been once again seen on the screen, but the big question is that Reliance Industries is not able to move up with the Index, which is a major warning for Pirates in the coming sessions, if Reliance doesn't cross 2230 on closing basis, this stock won't out perform & may take correction after touching these levels, so now for the up move to continue keep eagle eyes on Reliance Industries.

For the last day of the week end, the hunting MAP is as follows : -


Nifty is in over brought situation & may under go a correction soon, we have been saying this since the levels of 4900 but that prove to be wrong on the cards & we saw 5000 as the mark on the screen in today's session, but was not able to sustain there, we are looking for a small correction till 4880 levels & we won't be surprised to see 4780 - 4720 levels on the cards, that to before 5100 benchmark, nifty would now have to consolidate at lower levels before making new highs for next month, thus a healthy correction is still due in the market,

Nifty buy above 4980 - 4985 - 4997 - 5013 - 5030 SL - 4965

Nifty sell below 4970 - 4954 - 4938 - 4925 - 4912 SL - 4982

Monday would be a holiday, thus don't take any short & long positions over night, as per we won't get to know whats cooking for us for tuesday, thus better to see the market for tuesday & then only react to it.

Volatility index is back on track & we may see a fight between the bulls & the bears & below 4880, the trend of the market will be negative now & bulls can take it till 4750 levels which is a nice area to buy, so wait for dips & do watch Reliance Industries.

Levels to watch out for Nifty are 4990 - 4950 - 4920 - 4880 - 4780 - 4750

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
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