Treasure Hunting Map ( Nifty ) - 22nd Dec

Hello Pirates

Nifty has broken a important trading level which was 4965 and made a low of 4936 on the cards on intra day basis, this shows that the gap which was created at the time of gap down opening when the dubai markets had crashed and we all has seen a black day, but no one remembered about the gap and went long for a new high, well the new high was created but due to the gap the upside was intact and thus we saw the same crash from the levels from which we had crashed earlier also.

But as soon as the gap is filled the new run would be starting and as per the range bound situation has been broke we would witness some fresh moves by the bulls, the bears have had a nice game and if we look at the charts down side seems to be limited and the upside can be unlimited as compared to the downside ratio.

In the end bulls would be the winner and the bears would have to take a sleep before the next run begins and as expiry is nearing about and xmis is on head we would get a new xmis gift by the santa and saw ho ho ho santa is here and nifty is at XXXX levels ;).

For the session we are neutral and expecting a volatile session, if we look at Dow its at a green light and trading about 100+ points, if we look at the Asian markets they were trading in Red light from a long time and Europe markets they have also closed in Green light, so expecting Dow to close in Green light and seems that its has stopped following other markets and on the run of its own foots.....

IF we look at the dollar index it has also moved to its peck and now in over brought zone thus expecting some weakness in that section which would give support to our markets and commodities also crude has taken support at 68$ as said and bounced to 74$ and seems its going for a new high this time, Gold is still under correction and sell at rise is a options as per it had taken a long run without any correction and thus its going down and 1080$ is my target currently at 1104$ thus some more down side is intact.......

Nifty has a very important support at 4920 levels weekly close below that would open gates of 4800 levels and finding power at 4995 and 5030 levels cross over the two levels would provide a hurdle at 5055 levels and 5085 levels, as soon as the 5085 levels are crossed one can expect a non stop run towards a new high.

For the session important levels are 5005 - 4980 and 4924 - 4900 levels, expecting a mix session and opening would be dependent on global ques, hoping for a trend change and reversal from 4930 levels so shorters be careful this can act as an trap for bears and bulls can attack with full force.

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

www.moneybaghunting.blogspot.com
http://twitter.com/moneybaghunt

Yahoo User ID - moneybaghunt

Live Conference at www.treasurebag.ning.com