Treasure Hunting Map ( Nifty ) - 1 Dec

Hello Pirates

In todays session we saw some panic short covering but no fresh buying was seen in the market, we were low at volumes thus this rally is not sustainable and we have closed below 5055 levels which makes the markets range bound and still in the hands of the bears, a close below 4990 for conservative days would lead to a down fall for the session.

The gap which was created on Friday after the gap down opening has been filed in today's session, in other terms we can say that this green day was created to fill up the gap which was created, for the session also we saw low volumes, we have to be crucial at all levels as per global markets are creating weakness signs and Dubai markets are trading at a very danger zone, which can make cracks in the markets as per charts and a brake down can happen.

Buy at dips and sell at rally is advisable to all traders.....

Treasure Hunting Map for the session is as follows : -

Buy Nifty above 5040 for a target of 5050 - 5075 and above 5080 we can touch 5085 - 5111+ Stop Loss - 5005

Sell Nifty below 4990 for a target of 4961 - 4935 and below 4930 we can touch 4925 - 4890 -
Stop Loss - 5015

Magic Levels for Long Side above 5101 - 5000 and Short Side below 5067 - 4964

Nifty Resistance : - 5044 - 5055 -5066 -5100 - 5142

Nifty Supports : - 5021 - 5009 - 4998 - 4964

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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