Treasure Hunting Map ( Nifty ) - 14th Dec

Hello Pirates

Nifty has made a new high for the year which is just 1 point above the previous highs and in spot if we see the high touched for the year 2009 is 5182.55 and the timing of making the new high was superb, as the new high was made a crash was seen from the new high and the markets had expected 12% from IIP numbers but it came out to be 10% only but not that bad as compared to previous IIp numbers, which simply means the markets has over reacted during the session.

If we look at the weekly data then the low for the week was made on the 8th of dec and the new high which was taken by nifty baby was on the 11th of dec, so for next week, nifty has to cross 5182 with volumes and if brakes 5058 with volumes then get all set to see the bulls getting a heart attack and bears taking over the game.

The top formation can be said to be broken thus a chance of a pull back by the bulls can be expected for the week and this range bound situation would be broken either sides would decide the winner of the round.

Treasure Hunting Map for the session is as follows : -

Buy Nifty above 5130 for a target of 5149 - 5170 and above 5183 we can touch 5197 +
Stop Loss - 5100

Sell Nifty below 5080 for a target of 5055 - 5035 and below 5015 we can touch 5008 -
Stop Loss - 5110

Magic Levels for Long Side above 5169 - 5091 and Short Side below 5143 - 5066

Nifty Resistance : - 5125 - 5134 - 5143 - 5169 - 5220

Nifty Supports : - 5108 - 5100 -5091 - 5065 - 5032

ABOVE 5130 ONLY WE CAN SEE SOME BUYING AND ABOVE 5165 SOME SHORT COVERING CAN BE SEEN AND NOW NIFTY HAS TO CLOSE ABOVE 5200 FOR A BIG MOVE OTHER WISE EXPECT A HEART ATTACK BY BULLS :)

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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