NIFTY AMA

NIFTY AMA	RANGE
5 H- AMA	5627	5607
5 L- AMA	5560	5537
5 AMA	5592	5570
13 AMA	5593	5583
34 AMA	5802	5880
89 AMA	5857	5810
144 AMA	5997	6070

NIFTY BANDS :

SUPPORT 1 :       5607 - 5627

SUPPORT 2 :       5583 - 5593

RESISTANCE :   5802 - 5810

Nifty as expected showed the positive tick with a gap up opening and rallied sustaining above our levels. Now the AMA table is pretty clear. Strong support exists at 5593 for Nifty.  If Nifty manages to cross the hurdle and resistance of 5700 in tomorrows trading session then the next resistance is right up at 5800 levels. Now a broad trading range of 200 points from 5600 - 5800 has opened up in Nifty between the 13AMA and 34AMA bands. Nifty will consolidate between these bands till showing a clear breakout on either AMA.

 Till then trade as per levels.

Happy Trading !!!

NIFTY AMA

NIFTY AMA	RANGE
5 H- AMA	5586	5560
5 L- AMA	5517	5490
5 AMA	5541	5518
13 AMA	5588	5578
34 AMA	5820	5903
89 AMA	5863	5815
144 AMA	6003	6075

NIFTY BANDS :

SUPPORT 1 :      5541

SUPPORT 2 :      5517

RESISTANCE :  5590

We mentioned yesterday that it is imp that Niftyy close above the 13AMA level at 5616. Nifty having moved upto 5630 in intra failed to sustain above our crucial level. This is the dynamism of AMA levels.

The 13 AMA band  has now come down to 5588 and that is exactly at todays closing for Nifty. If Nifty manages to hold ground above this level and show some positive tick then we may expect some consolidation in Nifty with a positive bias and a halt in the downtrend.  The next resistance band for Nifty comes near 5815. Thats far off for the time being and opens up a trading range of 200 points in Nifty if it sustains above the 13 AMA band.  However, the same level can be a resistance in tomorrows trading session if Nifty is trading weak and is unable to sustain above 5590 mark. 

Tomorrow being expiry also keep an eye on  options open interest which will determine which way markets will swing. Till then keep the levels handy.

Happy Trading !!!!

NIFTY AMA

NIFTY AMA	RANGE
5 H- AMA	5607	5580
5 L- AMA	5511	5480
5 AMA	5542	5504
13 AMA	5616	5605
34 AMA	5850	5940
89 AMA	5873	5822
144 AMA	6011	6083

NIFTY BANDS :

SUPPORT :        5480 - 5511

RESISTANCE :  5616

Nifty having taken minor support showed some strength and rallied straight into & past our resistance band of 5630 - 40. However, Nifty was unable to sustain and close above the same and drifted lower towards the end of the trading session.  Now the 5H- AMA and the 13 AMA bands have come very close to Nifty's close and near the 5600 mark. If Nifty sustains and closes above 5616 mark then we may expect the downtrend to halt and Nifty may go into sideways consolidation with a positive bias. However, if Nifty is unable to close above the 13 AMA band at 5616 then Nifty may drift lower towards 5500 (one can see that the 5L - AMA and 5 AMA bands have drifted lower) where it will find support. So tomm's session will give us further clues.

Happy Trading !!!

NIFTY AMA

NIFTY AMA	RANGE
5 H- AMA	5637	5639
5 L- AMA	5558	5558
5 AMA	5588	5583
13 AMA	5644	5630
34 AMA	5880	5975
89 AMA	5882	5828
144 AMA	6017	6089

NIFTY BANDS :

SUPPORT :  5558

RESISTANCE : 5630 - 5644

Nifty 5L -AMA band has now come down to 5558 and near the pyschological 5550 level. Below that Nifty will drift lower towards 5500 and lower. For a reverse in the downtrend Nifty has to close above the resistance band of 5630 - 5640.  The band of 5630 - 40 is crucial as we have the 5H - AMA and the 13 AMA band converging in that zone. Therefore, it becomes a crucial and important resistance band for tomm.   

Markets may keep drifting lower till it stays below the resistance band and till it keeps breaking 5L - AMA.

Happy Trading !!!

NIFTY AMA

NIFTY AMA	RANGE
5 H- AMA	5845	5871
5 L- AMA	5783	5801
5 AMA	5838	5868
13 AMA	5747	5714
34 AMA	5970	6072
89 AMA	5909	5848
144 AMA	6033	6101

NIFTY BANDS :

SUPPORT 1 :      5780 - 5800

SUPPORT 2 :      5714 - 5747

RESISTANCE :   5840 - 5870

Nifty has minor support at 5780 and below that a crucial support at sub 5700.  There is now a major resistance in the zone of 5840 - 5870. There are multiple numbers converging in this zone and we also have the 89AMA band present from 5848 - 5909.  Now only if Nifty manages to clear and close above this resistance band  then one may reverse to longs for higher targets.

However, below the 5L - AMA band Nifty will target sub 5700 and lower.

Trade accordingly as per levels. We have an important FED POLICY Decision day tomorrow.

Over to you Bernake  !!! 

NIFTY AMA

NIFTY AMA	RANGE
5 H- AMA	5722	5728
5 L- AMA	5673	5678
5 AMA	5685	5687
13 AMA	5782	5785
34 AMA	6027	6138
89 AMA	5922	5859
144 AMA	6038	6104

NIFTY BANDS :

SUPPORT :            5673 - 5687

RESISTANCE 1 :   5722 - 5728

RESISTANCE 2 :   5782 - 5785

As expected Nifty has seen swift movements on the downside. Now for tomorrow's trading session immediate supports exist at the 5670 - 5685 band coinciding with todays low. Immediate resistance is at the 5720 - 5730 band which coincides with todays high & above that Nifty will face stiff resistance at the 13AMA band at 5780 - 5785. Therefore, above the 5H - AMA band one may expect a bounce till the 5780 levels.  However, the trend for Nifty is firmly down  and one can expect resumption of downtrend post this trading bounce. A move below the 5 L-AMA band will see Nifty making swift movements towards 5600 or lower.

Till then enjoy the shorts.

Happy Trading !!!

NIFTY AMA

NIFTY AMA	RANGE
5 H- AMA	5878	5892
5 L- AMA	5787	5797
5 AMA	5799	5815
13 AMA	5880	5887
34 AMA	6075	6174
89 AMA	5937	5872
144 AMA	6046	6109

NIFTY BANDS :

SUPPORT :            5787

RESISTANCE 1 :  5799 - 5815

RESISTANCE 2 :  5870 - 5890

Nifty broke down the 89AMA range and closed at the 5L - AMA as mentioned yesterday. On breaking below 5877, Nifty gave a near 100 points touching 5780.  Thats the dynamism of AMA levels. 

Now no levels exist on the table below 5787. So that implies Nifty can make swift movements and one should avoid longs until it crosses and closes above atleast the 5L - AMA band.  Till then enjoy the shorts...

Happy Trading !!! 

NIFTY AMA

NIFTY AMA	RANGE
5 H- AMA	5908	5899
5 L- AMA	5829	5824
5 AMA	5855	5860
13 AMA	5914	5911
34 AMA	6096	6191
89 AMA	5943	5877
144 AMA	6048	6111

NIFTY BANDS :

SUPPORT 1 :        5855 - 5860

SUPPORT 2 :        5824 - 5830

RESISTANCE :     5900 - 5915

P.S : -  Nifty has been moving & consolidating in our 89AMA band since the past few trading sessions. Any break from the band can lead Nifty to it's next band. For instance, breaking below the lower range of the 89AMA band at 5877 Nifty will target the 5AMA band from 5855 - 60 and breaking above the upper range of the 89AMA band Nifty will target the next band i.e the 144 AMA band at 6048 - 6111.

NIFTY AMA

NIFTY AMA	RANGE
5 H- AMA	5900	5872
5 L- AMA	5832	5805
5 AMA	5869	5839
13 AMA	5958	5947
34 AMA	6121	6204
89 AMA	5950	5887
144 AMA	6051	6114

NIFTY BANDS :

SUPPORT 1 :          5870 - 5900

SUPPORT 2 :          5830 - 5840

RESISTANCE :       5950 - 5960

Please Note:  All the AMA Tables henceforth posted will be applicable for next days trading session unless specifically mentioned & posted on the same trading day. So this table is applicable for 7th June, 2013.

Happy Trading !!!

NIFTY AMA

NIFTY AMA - PART III

NIFTY AMA	RANGE
5 H- AMA	5928	5918
5 L- AMA	5853	5828
5 AMA	5867	5830
13 AMA	5983	5974
34 AMA	6128	6204
89 AMA	5953	5891
144 AMA	6051	6116

Nifty is having support for tomm at the 5AMA band at 5830 - 5867 and so also Nifty has resistance at the 5 H-AMA band at the immediate levels of 5918 - 5928.

One can observe that the 5 AMA value is at 5830 & at the same time the 5 L-AMA is very near at 5828. This converging of multiple points gives more importance to the level and therefore 5830 is an important point to watch out for in tomm's trading session on the downside and the zone of 5920-30 on the upside.

Only trading above the 5 H-AMA band Nifty will aim for the 13AMA band at 5974-5983, the major resistance zone.

NIFTY CLOSING : 5923.85

NIFTY BANDS :

SUPPORT :           5830 - 5860

RESISTANCE :     5920 - 5930

This is the end of the Nifty Ama series & we shall soon regularly update the NIFTY AMA Table. 

Happy Trading !!!