Treasure Hunting Map ( Nifty ) - 7th

Hello Pirates

Once again a Rocking day & we minted in tons, in the morning only we had said that nifty is gonna rock & we gained both sides, nifty is as sweet that one may get diabetes from it.

Nifty had formed a doji on the charts on Friday closing & the closing for tomorrow were just to surprising, yet again nifty moved as we had said, in the morning only in the chat room we had said that Nifty is a buy at dips & all the shorts were trapped when it came to closing time, nifty just zoomed to positive like nothing, our prediction was right & we were long in nifty from 4930 levels with a stop loss at 4910 & see the closing of nifty, more then 100 points on the cards.

The fall was due to weakness in the Telecom sector, yet again another day the weakness was seen in the stocks, but tomorrow is a crucial day we are expecting the Results for Reliance Industries which plays a very important role in the Nifty Index.

Reliance was a stock which didn't show weakness & kept on holding its lows as the index felled, as the major support for index which was 4980 was broken at a glance, the crucial support for nifty was 4950 & 4920 on the cards, we say in the intra day charts that it took support at 4920 levels & straight away head to possitive after breaking the hurdle for 4980 on the cards.

Nor for tomorrow nifty has to brake 5050 & 5080 levels for more of upside, we are expecting this week that nifty will touch 5100 sure shot & we may see more of new highs for the year 2009.

Treasure Hunting map is as follows : -

NIFTY

Buy Nifty above 5051 - 5067 - 5080 - 5108 - 5144 - 5181 SL - 5022

Sell Nifty below 5000 - 4974 - 4954 - 4917 - 4880 - 4860 SL - 5032

The Magic levels to keep eyes at : - 5090 - 5059 & 4996 - 4965

BANK NIFTY

Buy Bank Nifty above 8850 - 8900 - 8946 - 8992 - 9079 - 9165 SL - 8814

Sell Bank Nifty below 8700 - 8681 - 8635 - 8462 - 8416 - 8370 SL - 8740

The Magic levels : - 8954 - 8881 & 8736 - 8663

The coming sessions are gonna be more volatile & more surprising as the festival season is coming near & we are heading towards new highs, the global ques are back on track & slowly slowly we are heading towards new highs, we are expecting a gap up opening of 20 - 25 points on the index & booking partial profits at high levels is very important & keep eagle eyes on Reliance Industries thats the surprising bag for the month.

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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