Nifty for 18th March 2010

Hello Pirates

Todays session was a good session where the bulls and nears had a fight and a war all together, most of the TA's and Chart readers are getting shocked and surprised to see the FALSE BRAKE OUT in nifty and totally confused on what to do whether to go long at current levels or to go short, 

IF I GO LONG THEN WOULD NIFTY MAKE NEW HIGHS ????

CAN I GO SHORT AT CURRENT LEVELS, BUT ITS NOT FALLING SINCE MANY DAYS?????

WHAT TO DO ?????????

IS A VERY BIG QUESTION IN EVERY ONES MIND AT CURRENT DATE

FII's are playing games with all, well there game is also fair as per the power goes into there hands and in todays session if we see Reliance Industries was not moving at all and was trading in a FLAT note, we clearly followed global ques and thats what made us GREEN, any day when International Market goes into RED then markets would make DREAMS come TRUE for BEARS who are so hungry at this stage and DOLLAR is under bearish form bulls might shift to DOLLAR very soon.....

For the Session

Nifty Important Level – 5244 (Futures)

Nifty can touch - (Futures)

Above the mentioned levels bulls  -  5255 - 5266 - 5280 - 5294 - 5305

or

Below the mentioned levels bears - 5230 - 5217 - 5205 - 5194 - 5181

MOST IMP LEVELS  -  5185

Bulls Grip above 5267 & 5226

Bears Grip below 5253 & 5212

We don't advice to create any LONG POSITIONS at current levels, markets have given a false brake out, we are awaiting for DOLLAR INDEX to pull back and Fii's are buying since one week which doesn't mean that they would not unwind there positions, BE CAREFUL YET AGAIN....

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

Regards

Treasure Captain

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