Treasure Hunting Map ( Nifty ) - 20th

Hello Pirates

Nifty just moved as we had predicted in the article which was posted for the session - 19th November 2009, we saw a volatile session and being the opening and high for nifty futures being the same we got a confirmation note that we are gonna have a big fall and the major support level for 5010 was broken thus we had a free fall panic in the end of the session.....

Nifty range has been broken now and we have closed at days lows, nifty had recovered after 3pm till 5000 levels but panic was so much that nifty was not able to close above 5000 levels thus we saw a fall again and the redy market closed finally on a red note, as we had said that we would have a negative day and a panic also after breaking support which we saw in the end of the session....

For the up coming session, nifty would have some moves, we can have a bear and bull fight as per nifty is trading side ways, the trend is not yet clear where are we heading to, breaking 4950 leads to a downside and the winner for the round would be the bears, but a close above 5010 levels would give another chance for the bulls to take over the round and head to a high range for the year....

Levels to watch out on the down side are 4950 - 4920 -4880 levels and if we are able to close above 4985 - 5010 - 5050 - 5080 levels then we are attempting for a head high in the sky by the bulls or breaking 4880 would confirm a down side till 4550 levels and the direction of the market would be decided....

Very Important levels for directions 5085 for more upside till 5200 levels and on the downside below 4945 would lead to 4850 levels or even lower....

Treasure Hunting Map for the Session is as follows : -

Buy Nifty above 5000 - 5020 - 5040 - 5066 - 5091 - 5110 - 5130 SL - 4980

Sell nifty below 4976 - 4950 -4931 - 4912 - 4886 - 4860 - 4809 SL - 5010

Magic Levels for Long Side above 5038 - 4964 and Short Side below 5014 - 4940

Nifty Resistance : - 4997 - 5005 - 5013 -5038 - 5080

Nifty Support : - 4980 - 4972 - 4964 - 4939 - 4909

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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