Treasure Hunting Map ( Nifty ) - 23rd

Hello Pirates

From 3 continuous days we have been witnessing sell of on screen from investors and financial institutions also, one the charts a down side line has been formed and we may witness some more selling pressure, this proves that 5150 mark for nifty is a Red line which has to be crosses for further upside, tomorrow will be a crucial day for the markets, after seeing a low of 4968.45 in spot it finally settled the day at 4988.60, nifty has support at 4980 levels, and on the upside bulls can tale over the game only above 5030 levels.

One may cut out longs at the breach of 4900 levels on closing basis, time is crucial and we are heading to expiry also, the fight between the bulls and the bears is continuous, global ques are also not helping us out, huge put writing has been seen at 4900 puts, so the major support for nifty is 4900 which when breached would create a panic button and we might see heavy sell off, as of now one can take this opportunity as a buy for levels of 5130 on the cards.

Treasure Hunting Map for Nifty : -

Buy Nifty at 5030 - 5045 - 5074 - 5102 - 5122 SL - 4998

Sell nifty at 4965 - 4949 - 4930 - 4911 - 4882 SL - 5105

Magic Levels for Long Side above 5041 - 4962 & Short Side below 5015 - 4936

One has to be careful at these levels, as nifty is trading in a tight range and any side breaching would create new lows or new highs, crude oil is trading at 2009 highest peck, if we see commodities going under correction, we might see the bears taking over, but the trend is over all positive until we are above 4900 levels & we expect this expiry to be a neutral range bound expiry as the King of the market is not able to hold its levels and can touch 2080 levels again, its trading in a tight range of 2130 - 2080 levels, so as and when we see the King at 2080 levels, we can see a start again at high levels & breaking of 2050 for the king & 4880 for Nifty, would shift the remote to bears hands.

We would suggest traders to trade less and with strict stop loss.

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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