Treasure Hunting Map for 11 Jan 2010

Hello Pirates

Nifty has made news highs for the year 2010 and at the years end of 2009, as we had predicted that we would see a xmis gift which was seen and 5200 was archived, on the other hand every body was expecting nifty to touch 5300 on dec expiry, but we had said that we dont expect that big move for dec and a new year gift would be seen and nifty made high for 5300 for the month of jan and the year 2010 opening as a new year blasting time.....

Our reversal point was 5309 which was archived last week and thus the bulls seem to get weaken and nifty broke 5250 levels on Friday as we saw a narrow range for the past few sessions which shows that bulls are ending there life and bears are charged.....

Remember we had said in Dec that after the xmis gift and new year gift there would be a revenge time, so get all set for a revenge and the narrow range proved the same, if we look at the stocks section last week, ONGC & Reliance Industries the king of market have been seen huge buyers and holding there top positions which proves that they were the ones holding the index from correction and a false brake out was seen and operators are using there systems to create a trap for all........

For the week ahead.....

Closing below 5275 futures and 5284 spot is a chance to go short with a Stop loss of 5309 for a target of 5240 - 5220 levels, bulls have a chance to hold unless we are above 5220 and 5180 which was the double top created last few months back and we had witnessed heavy sell off at those levels, if both the levels are broken then the bears have a pull back and bulls would have an heart attack.....

For the week

Nifty will try to touch 5215 - 5156 - 5127 - 5084

If we look at the RSI data its in over sold zone, a healthy correction is due for the markets, for the week nifty closing above 5300 will create a brake out on charts and closing below 5200 will invite the bears to party with a bear

Weekly Point to watch out 5254 to watch out

Over all every rise should be taken as a chance to short nifty with a Stop Loss at 5309 levels and keep booking profits as per convenience, just watch out 5220 - 5180 levels on closing basis for holding your long positions....

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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