Treasure Hunting Map ( Nifty ) - 24th

Hello Pirates

Nifty is has broken the gates of double top formation at higher levels which was 5080 and was trading above those levels for the whole session, major holder and helper for the market to crash despite other world markets were negative in the opening bell was Reliance Industries the KING of markets and in the later half we saw some profit booking and correction or we should say a fight between the telecom players which made Nifty hesitate a bit and was uncomfortable at higher levels and started slipping from its highs, but as it come down the King of markets was boosting it up and it was a major holder in holding the markets from loosing control.

We are just few days away from expiry and global ques are at our side, but the key to the lock is that we have to cross 5125 on closing basis for further upside, one may have noticed this important level in our previous articles and thus we are once again making a note for all to make a note that 5125 is a very important level to cross for further upside other wise markets can swing from 5110 levels for a correction as per we are in over brought zone.

Some good news have been heard from news related to King thus its trading at a positive bios but its also in over brought zone and thus upside can be gaped out soon and it may not be able to take support for nifty, thus we would advice all investors and traders to trade cautious and if one is getting profits, then one is advised to book profits time to time as per this is expiry and we might see high volatility in the market.

Important Levels for the Session are 5126 - 5155 and on the downside 5076 - 5045

IF we look at the opening bell data then we would find that Open Low for Nifty was same in spot and if we look at the Bank Nifty then open high was same thus ban nifty was not able to perform at its best performance for the session, thus one has to keep eyes open.

Treasure Hunting Map for the session is as follows : -

Buy Nifty above 5110 - 5125 - 5138 - 5150 - 5169 - 5188 SL - 5076

Sell Nifty below 5066 - 5047 - 5028 - 5016 - 5005 - 4985 SL - 5085

Magic Levels for Long Side above 5137 - 5087 & Short Side below 5120 - 5070

Nifty Resistance : - 5109 - 5114 - 5120 -5137 - 5154

Nifty Support : - 5097 - 5092 - 5086 - 5070 - 5043

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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