|
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 !!!
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