Treasure Hunting Map ( Nifty ) - 8th Dec

Hello Pirates

Nifty has shown some moves this week, after continuous buying last week we say some profit booking at higher levels, if we see the data we would find that Future Nifty open high was same and thus we witnessed problems at highs, during the session Reliance Industries also broke a very important level which was 1080 and cracked whole day and thus nifty broke important support at 5090 levels and as analysts were saying nifty has support at 5070 levels, it tool no time to crack that level and we say 5051 on cards.

For the session nifty has support at 5045 levels, bulls have a last chance to show some pull back, on the upper side nifty has resistance and hurdle at 5135 levels, cross over with volume would lead to a attempt for a new high, if we look at the volumes in todays session, there was no volume at all and thus this correction is a weak correction and markets can recover and its trading in a range bound situation as of now.

This correction has been with low volumes, tomorrow also we would be facing a volatile session and a fight between the bulls and the bears, keep eyes on the data and dollar index as per that the only bear which is attacking with full force and even the commodities sector are facing sell off pressure.

Treasure Hunting Map for the session is as follows : -

Buy Nifty above 5083 for a target of 5099 - 5114 and above 5130 can touch 5140 - 5162 +
Stop loss - 5055

Sell Nifty below 5048 for a target of 5035 - 5019 and below 5010 can touch 5003 - 4980 -
Stop loss - 5075

Magic Levels for Long Side above 5111 - 5045 and Short Side below 5089 - 5023

Nifty Resistance : - 5074 - 5081 - 5088 - 5110 - 5158

Nifty Support : - 5059 - 5052 - 5044 - 5022 - 5000

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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