Treasure Hunting for 14th Jan 2010

Hello Pirates

Nifty has been showing volatile moves, and nifty has over all hit most of the weekly targets, now for the session one has to keep eyes on 5170 levels which comes out to be a chance for bulls on closing basis and panic below that would drag the index down, for the session the IT index was a major supporter for the market and todays rally was from It sector only that to because the It king Infosys have popped up pretty good results, but this recovery should be concede red as a long position holding time, one can take this recovery as a chance to go short at higher levels until we are not closing above 5300 levels for a next big...

For the session nifty might touch 5236 - 5258 - 5271 - 5283 - 5306 on the higher band and on the lower band one can expect to see 5201 - 5189 - 5166 - 5144 - 5132,

Go short around 5271 - 5283 levels which a Stop loss at 5306 levels and targets can be 20 - 30 points

Go long arounf 5189 - 5166 with a stop loss at 5144 targets 15 - 30 points

These are intra day levels for the session.

Nifty will touch 5253 or 5215 tomorrow

Over all if one remembers the weekly pivot which is at 5254, nifty has closed below that thus over all nifty is on the short side.

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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