Treasure Hunting Map ( Nifty ) - 21st Dec

Hello Pirates

Nifty has broken the range of 5180 - 5050 and also the most important level of 5000 and 4980 levels, on Friday nifty spot made a low of 4979.05, which is a very danger part as the range has been broken this may be a brake down on the charts, the king of the markets are also not supportive, if we look at the data, Nifty open High was same at the opening bell for nifty which is a bearish signal, same was with the King.

If we look at the open interest 5200 and 5300 calls have the big bag of open interest and all the money has been eaten up from them and comes to the puts section, 4900 puts and 5000 puts have shown some good open bags, which means in the coming week investors and traders are all set to eat up the money in puts which means the markets can bounce back but the big question is from which levels....???

IF we look at the charts of nifty, 4940 is a very important sign of bulls and 4980 is a support which when broken can lead to panic sell off, on the upside 5020 5055 and 5085 are important levels to be broken for more upside.....

Expiry is ahead on cards and nifty has been consolidating from a long time, so the efforts can be said to go waste, which means this consolidation has to show some big moves soon may be Jan if not this month, but the big question is for December, for the week we may see a mix session, expect nifty at 5096 or 4924

We are expecting a bounce back after the fill up of gaps so one can keep a stop loss at longs at 24 on closing basis for a target of 5096+ within this week and below 4924 we can expect 4880 levels also.

NIFTY NEXT WEEK 5096 OR 4924

The inflation was only a major problem for the markets and rest all the data seems to be positive thus this year we can expect some swings and reversals, one has to be careful and suggest all to hedge there positions.

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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