Treasure Hunting Map (Nifty) - 2nd Dec

Hello Pirates

We had seen continuous two days fall last week which was on Thursday and Friday and a red mark was made on the charts of the index, now for this week we have seen to days continuous buying, thus in the end of the day if we look we are neutral and fresh moves have to be be made.

In todays session if we look at the data then we would find that the opening and the low of the index was to be same and on the other hand not only with the index but in many shares it was witnessed t hat the opening rate and the low of the stock was the same, the king of the market was also support the markets.

We have crossed a major hurdle which is at 5125 in futures but still we have not closed above 5125 in cash, if tomorrow we are able to cross 5138 and close above these levels then we might see some fresh upside and new highs on the cards, as of now nifty is trading side ways.

If nifty is able to cross 5138 with volumes and that to for 2 more conservative days then the markets are at a run and soon a new high and a new peck it to be touched, its a warning to all the shorter's, keep a stop loss at 5138 on closing basis, we are going for a fresh brake out on charts.

Treasure Hunting Map for the session is as follows : -

Buy Nifty above 5120 for a target of 5155 - 5171 and above 5178 we can touch 5188 - 5217
Stop Loss - 5090

Sell Nifty below 5080 for a target of 5063 - 5049 and below 5042 we can touch 5034 - 5005
Stop Loss - 5108

Magic Levels for Long Side above 5172 - 5097 & Short Side below 5147 - 5072

Nifty Resistance : - 5130 - 5138 - 5147 - 5172 - 5194

Nifty Supports : - 5113 - 5105 - 5096 - 5071 - 5011

Important Levels : - 5140 - 5180 - 5225 - 5075 - 5045 - 5010 - 4980

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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