Treasure Hunting Map 21st Jan 2010

Hello Pirates

Nifty has been showing surprises to all the intra day traders, most of all the king of markets which had so many buyers, almost about 30 lakhs buyers to 20 lakhs buyers with just nominal sellers about 3 lakhs or so the numbers can be approx, had seen some profit booking and from 1125 odd levels it was trading at 1072 levels during the session.

Nifty finally brake the psychological level which was 5200 in futures and made a low of 5195 but the spot nifty was able to hold 5200 levels and thus we saw a bounce back from 5195 to 5231 levels and finally ended at a flat note but below 5220 levels which was the levels for the bulls.

Now the most important level to watch out is 5189 in futures and 5180 in Spot nifty, if these levels are broken then a short brake out signal can come in and we might test lower levels also, the king has to brake 1070 levels for more down side and drag the market down with it.

Important Nifty Levels to watch out
-
5218

Nifty can try to touch

5230 - 5242 - 5256 - 5270

or

5204 - 5190 - 5178 - 5166

Nifty is Strong above 5243
&
Brake down below 5186

Pre - Market Call

Nifty buy at 5226 targets 5238 - 5250 - 5262
Stop Loss - 5201

Nifty sell at 5201 targets 5189 - 5177 - 5165
Stop Loss - 5226

Nifty has been dipping for 2 conservative days, tomorrow the major big players are coming up with there results, ONGC - ICICI BANK - L&T & most of all Inflation numbers are popping up on screen....

Dow Jones is around 190 points in RED, what will happen, will we react as DOW, or we would be seeing a magic wound showing some magics.

If we see the past years, 21 - 22 Jan 2008 was a deadly beginning and bears had attacked with full force without intimating any one....

BULLS HAD REST IN PEACE THAT YEAR.....

WHAT WILL HAPPEN THIS YEAR ?


THE KEY TO THE lock IS 2010

We would like to wish all the Pirates a very all the BEST.

Regards

Treasure Captain

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