Treasure Hunting Map for 15 Jan 2010

Hello Pirates

Nifty has been showing a mix session and the fight between the bulls and the bears is on, nifty had tried to make a low for the day but the king of the market was very much supportive and huge numbers of buyers were seen in the stock.

If we look at the data today, then spot nifty open and low is near about similar and as we had predicted in our previous post for 14th Jan, nifty has touched our levels and we had clearly mentioned the which we respected by our market.

For the session one has to be careful as per the week is about to close and bank nifty is not at all supportive and just on the edge on the fall, if the support is taken at 8900 levels for bank nifty on closing basis for conservative days then one may not see a free fall in the banking index, other wise the worse in bank index is yet to be seen.

For the week if we see, we had posted an article on the starting of the week that 5275 below that is a clear short brake out and above 5300 only fresh long positions can be taken, which happened today, we had posted the same in yesterdays article also, one can short around these levels for a margin profits of 20 - 30 points which was duly earned and nifty didnt cross 5275 and thus 5255 was seen on cards.

For the session : -

Nifty if gap up opening then Short around 5270 levels with a Stop Loss of 5278 for a target of 20 - 30 points.

Nifty if gap down opening then buy around 5253 with a stop loss at 5244 for a target of 20 - 30 points.

Nifty can touch for the session 5264 - 5291 and 5253 - 5221

Important Level to watch ------ 5260

Over all if we see global ques then the numbers are not impressive and sgx nifty as of now is just trading at 6 points in green, we are neutral for the session and one has to keep booking profits instead of getting there stop loss hit.

Today we saw the increase in inflation rates which is not a good concern for the banking sector and economy and government has to take steps so as to take control of the inflation, despite of bad numbers the markets moved up as per the support of KING, but if king doesnt support then what can happen, so one has to be careful.

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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