Treasure Hunting Map ( Nifty ) - 14th OctWhat an volatile session we had in the last session which was on Monday, in the first half, dollar was trading in green & slowly slowly was getting very strong & end the second half when the Europe markets opened at a green note, the dollar got weak & we say a massive jump in the market from its magic levels, once it had cracked but the due to double shot covering at lower levels we saw a massive brake out on the index & the king was holding its position, made the index move ahead on top.
Most of the stocks which were in momentum were belonging to Mukesh & Anil Ambani shares like RNRL, Reliance Infra, Reliance & so on, thus the markets really enjoyed the news & due to some positive in between the brothers, the markets cherished it & we saw the control in the hands of the bulls & the bears are fully trapped as of now.
On the charts, nifty has gone through a healthy correction & its strong above 4900 levels, thus any brake out above 5090 levels will open gates for 5200 levels also, for the week we are heading to Diwali season, thus keep eyes on Reliance Company shares, they would be the major drager for the market, any fresh brake out would open new gates & this range bound situation would be broken.
If we look at the World Markets like Dow Jones, yesterday, Dow made an attempt to touch 10000 levels on the cards, but the SNP 500 is not able to cross the 1080 levels bench mark, if the brake through is seen on the SNP500 index, then we can see Dow on the double run above 10000 levels.
Today was an holiday thus we didn't had the feel of the American markets rally, we may see some moves tomorrow in the opening bell, but the main thing to watch upon was the brake out above 5090 levels, or this range bound situation is going to continue & the index is again going to go down, but if we look at the charts, it shows a move on the up side & a brake out can be expected on the cards as per we are also heading to a festival season.
Treasure Hunting Map for Nifty can be : -
Buy Nifty above 5061 - 5099 - 5122 - 5145 - 5183 SL - 5030Sell Nifty below 5000 - 4977 - 4938 - 4899 - 4877 SL - 5025
The Magic levels for Long Brake out are 5122 - 5021 & Short Brake out below 5088 - 4987
If we look at the volumes they were just terrible, as we had seen some short covering on the Index, but the volumes didn't support us at that point, if we look at the trade of shot covering it seems that a panic buying was seen & some shot covering was seen in the index, but the shots have not been completely covered, and for the up move to continue these stocks can't only help us we have to see an improvement in volumes also.
If we look at the American markets they are trading flat to negative, Asia markets were trading in green but we didnt see any rally in those markets, after words if we see the Europe markets they were trading in red, so expect a volatile session tomorrow, and trade with strict stop loss.
We are also setting up a system where we would be providing 20 points minimum on the trade with the nifty index, in which we have a target to provide a decent returns on the investment traded on nifty, so one can check the Nifty Treasure Chest for more, we are coming up with a Nifty Treasure Chest very soon.
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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