Treasure Hunting Map ( Nifty ) - 30th Dec

Hello Pirates

If we look at todays session, just few days before the new year is yet to begin we saw some great moves by our Index and yet again we have seen a new high on the screen and nifty spot was also able to cross the shy level which was 5200, which is a good note for bulls, but if we look at the data nifty has a major hurdle at 5224 spot which has to be crossed and final hurdle which can be seen is at 5149 levels, which when broken and went ahead can lead to bulls getting strong and bears loosing out there power....

Over all, nifty has not able to close above 5200 levels yet again after making new highs which proves profit booking is seen at higher levels and open interest on the puts side is also on high pecks, if we look at the global data, Dow is able to hold 10500 levels and closing on a flat note, seems that FIIS are on a holiday and the index are operated by operators only, the volumes again are not upto the mark which is not a good sign for the bulls....

Nifty for the session which is tomorrow can touch 5200 - 5209 on the upside will act as resistance and on the down side 5181 - 5171 are important supports, any side brake out would lead to further moves, over all the trend is still bullish as per we are trading above 5180 levels and 5145 levels, the weekly pivot is also at 5110 which is a major golden gate for bulls, so bears have to attack big to take over the expiry....

If 5175 is broken tomorrow then we might test 5145 and 5094 levels also and if 5230 is broken then we can test 5255 - 5280 levels

Reliance Industries had a move in todays session but was not able to cross its major hurdle at higher levels to make nifty attempt to touch 5300 levels, thus thats a hurdle and nifty has to close above 5230 levels on closing basis for conservative days for a big blast on the screen....

EXPECT A VOLATILE SESSION AND NIFTY MIGHT BE IN THE HANDS OF BEARS AND A SMALL BABY BEAR MIGHT CATCH OVER THE BEARS

As we had mentioned earlier we have to close above 5235 for a big move

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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