Treasure Hunting Map ( Nifty ) - 8th

Hello Pirates

What an amazing day we had, it was a clear bear & bull run fight & the magic levels proved the moves, Nifty is trading in a Range bound situation & on the up side its touching 4980 levels & on the down side 4980 & 4920 levels are the major bull keys to take back the track other wise the bears have locked them up & taken over the track.

After the markets Reliance Industries have announced a good news for the investors also & for the traders also, they have decided to give one share as a bonus on the current holdings of the shares & also a dividend on the shares, this was a major dragger in the market, the King of the market was weaken thus we say a weakness & the bulls slowing there moves.

But Nifty is a buy at dips & sell at rally until we see a brake out on the charts, Nifty has a major support at 4900 levels & the bulls are not likely to give up so easily before making new highs for the year 2009, so take an opportunity to buy at dips with a stop loss at 4900 for a brake out on the charts above 5090 levels.

Nifty has been trading in a range bound situation for a long time & this consolidation can lead to brake out at any levels will make the new directions for the market.

Treasure Hunting Map for Nifty : -


Buy Nifty above 5011 - 5031 - 5050 - 5072 - 5083 - 5115 SL - 4990

Sell Nifty below 4980 - 4963 - 4946 - 4927 - 4907 - 4875 SL - 5008

Magic Levels : - Long Brake out above 5043 - 4957 & Short brake out below 5014 - 4929

Tomorrow might be a very volatile session keep close eyes on the magic numbers, now that day is not far that we finally get the winner of the fight, who would it be, a Bull or a Bear, well who even is it a brake out either sides would decide the trend of the market, Nifty is trading in a tight range bound situation & on the long side it has to brake 5090 levels on closing basis to reach the top & make new highs, on the other hand nifty breaching the levels of 4900 would put the ball in the side of the bears & this may be worse as per the bears have not taken the taste of the ball form a long time so this attack may be a very heavy one, but seeing the session today, nifty doesn't look weak, its trend is still range bound but braking the glass for another shatter move is to be yet to be seen.

Trade Less but in the right direction would be our views for all the Pirates as per the market are playing games with all, its having fun, you may get to have fun also buy you may also get to have a taste of the bears or bulls, so one should have to follow the levels not the trend of the market.

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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