NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	5890	5854
5 L - AMA	5830	5797
5 AMA	5850	5810
13 AMA	6027	6102
21 AMA	5940	5968
34 AMA	5725	5606
89 AMA	5713	5713
144 AMA	5787	5770

NIFTY BANDS :

SUPPORT :         5810 - 5850
RESISTANCE :   5940 - 5970


Nifty reached exactly at our resistance band of 5920 and turned. This is the power of the AMA table :)

Now as per the table, the 21AMA has climbed up to the 5940 - 5970 band. Remember, the 5970 zone has been a critical demand and supply zone in the past. One can easily observe from the table that the 5L - AMA, 5AMA and the 5H - AMA are acting as support for the Nifty and the 21AMA has moved up further, thus making some headroom for Nifty to rise in the short term. Therefore, holding 5850 Nifty may crawl higher towards 5950 - 5970. This however will only be a opportunity to add shorts at higher levels as we know that Nifty is firmly below 21AMA and 13AMA.

Keep in mind the 21AMA & 13AMA should act as a SAR (stop & reverse). As above these Nifty will change direction and head higher.

Trade as per levels.

Happy Trading !!!









 

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	5955	5966
5 L - AMA	5838	5830
5 AMA	5883	5870
13 AMA	6053	6142
21 AMA	5914	5916
34 AMA	5703	5578
89 AMA	5712	5717
144 AMA	5785	5768

NIFTY BANDS :

SUPPORT :         5830 - 5840
RESISTANCE :   5914 - 5916


Nifty is at a crucial stage. Though Nifty did not pick up momentum, it reversed from the crucial support of 5800 and closed the day mildly negative. A lot of people on the street will view today's bounce as a positive sign as Nifty held onto the 200DMA. However, we know that the crucial thing is to look at the 21AMA and not the 200DMA.
The 21AMA is now at 5914 - 5916. So round about, 5920 should be watched crucially on the upside. If the Nifty does gather momentum and sustain above 5920 then we can expect further momentum towards 5H-AMA and 13AMA. However, not crossing above 5920 will weaken any chances of a rally and the market may begin a fresh downtrend on breaking below the 144AMA.


Trade as per levels.

Happy Trading !!!








 

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6064	6120
5 L - AMA	5937	5972
5 AMA	5978	6022
13 AMA	6063	6150
21 AMA	5885	5863
34 AMA	5680	5551
89 AMA	5712	5721
144 AMA	5783	5767

NIFTY BANDS :

SUPPORT :          5863 - 5885
RESISTANCE :    5937 - 5970


Nifty took support exactly at the psychological 200DMA and the support band of 21AMA as mentioned in yesterday's post. Now we may see a bounce back in Nifty towards the 5H - AMA and 13AMA. Nifty has to pick up momentum soon or else the 21AMA will rise above it and the support will soon turn into resistance.
It's a interesting few days ahead. Nifty having taken support at the 200DMA & 21AMA will bounce upwards and retrace it's fall from 6140. It has overhead resistance at all the 5AMA's and the 13AMA. If it respects the resistance and breaks the 21AMA then the case for any upside will be severely weakened and we may see the onset of a fierce downtrend.


Trade as per levels.

Happy Trading !!!








 

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6120	6142
5 L - AMA	5973	5992
5 AMA	6023	6060
13 AMA	6063	6138
21 AMA	5860	5825
34 AMA	5662	5530
89 AMA	5711	5727
144 AMA	5782	5766

NIFTY BANDS :

SUPPORT :          5825 - 5860
RESISTANCE :    5973 - 5992


Nifty has turned and almost fallen off a cliff from it's crucial multi year resistance point.  We are below 5900 in a matter of 2 days.  That's the kind of volatility in the market.
With this sell off Nifty is trading below all the 5AMA and the 13AMA.
For the market to gather any kind of momentum on the upside the 5L-AMA has to be crossed first which coincides very well with the crucial band of 5970 - 5990. If this band is crossed we may see the Nifty aiming for the 5H - AMA and the 13AMA.

Support is very near at the 5825 - 5860 zone. Interestingly, this zone also has the 200DMA at 5845. So we may definitely witness a tussle around this zone. How the Nifty reacts from this band is important. If the Nifty closes below the 21AMA then the party is in probability over for the bulls. However, if it does manage to hold onto the 21AMA then a bounce is on the cards. How far, we will have to wait n see.

Trade as per levels.

Happy Trading !!!






 

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6135	6098
5 L - AMA	5998	5980
5 AMA	6075	6065
13 AMA	6050	6099
21 AMA	5835	5785
34 AMA	5640	5512
89 AMA	5710	5732
144 AMA	5780	5767

NIFTY BANDS :

SUPPORT :          5785 - 5835
RESISTANCE :    6050 - 6100


We were expecting markets to loose momentum on account of various factors and Nifty did exactly that. Nifty shaved almost 200 points in intra and gave up almost the gains it had made post the Q.E announcement.

Now the 13AMA is firmly in place at the 6050 - 6100 band and that should be the deciding factor. Markets have support all the way down near 5800. Nifty will now consolidate with a negative bias and fall towards its support unless it takes out the 13AMA on the upside.

This rally is over guys. Very little juice left, if any on the upside. Short on every rise is the mantra.

The last support for Nifty remains the 5710 - 5780 band, where the 89 and 144AMA lie. If that breaks, even the recent low of 5118 may give way.

Short Nifty on every rise now.

Enjoy the weekend.


Happy Trading !!!







 

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6070	6025
5 L - AMA	5980	5930
5 AMA	6041	5990
13 AMA	5990	6018
21 AMA	5785	5720
34 AMA	5610	5488
89 AMA	5705	5735
144 AMA	5775	5765

NIFTY BANDS :

SUPPORT :         6025 - 6070
RESISTANCE :   6187 - 6229




Fed decides not to taper.  Sensex up by 700 points.  What a Rally !!!!
Is it really a rally or a massive short squeeze to turn everyone on the street bullish?
As expected a positive Fed decision pushed the Nifty beyond the 6000 - 6050 band and even beyond the 6100 zone to almost 6150.

Now the real question is should one buy on dips or sell on rallies???
The question will be answered in a few days as to whether this rally can sustain itself.
Nifty has huge resistance in the 6180 - 6230 zone & above that at 6300 - 6350. We have a multi year resistance sprouting up in these bands.

Buying on dips is out of the question. Let me tell u why.

• Multi Year Resistance in the congestion zone of 6180 - 6200.
• Nifty gapped up above the crucial resistance of 5970 - 5980. Which raises a question mark on the inherent strength of this upmove.
• 13AMA rising fast and catching up on Nifty.

As one can observe from our previous posts, Nifty had a tussle going on with the 13AMA for the past few sessions. The 13AMA has risen very fast and is now placed at the 5990 - 6020 band. This will only rise in the coming few trading sessions and if Nifty has to move up then it has to keep up momentum and rally faster than the 13AMA.
I don't see that happening with a crucial multi year resistance band ahead as a roadblock coupled with the fact that Nifty has shot up by 1000 points in 16 trading sessions. Yes u heard it right.  1000 points in 16 sessions. That indicates a seriously overbought market.
So market will consolidate and not move up in a hurry. Dats the preferred view unless the 6180 - 6200 zone is taken out.
Once the 13AMA shoots up and if the Nifty is unable to keep up with the momentum then one may witness consolidation in Nifty with a negative bias. Confirmation of a new downtrend will only come below 5957, the previous high of the rally.

We will wait for a confirmation from the AMA table to Sell.


Trade as per levels.

Happy Trading !!!









 

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	5936	5907
5 L - AMA	5868	5840
5 AMA	5905	5865
13 AMA	5913	5948
21 AMA	5707	5633
34 AMA	5567	5457
89 AMA	5695	5733
144 AMA	5770	5763

NIFTY BANDS :

SUPPORT :         5760 - 5770
RESISTANCE :   5910 - 5950


Nifty managed to break out of the narrow trading range it has been witnessing from the past few trading sessions and closed at 5900.  The make or break support for Nifty remains at 5760 - 5770. A break below this support would signal end to this rally and start of a fresh downward leg.  Resistance remains at 5950.

A positive Q.E announcement may push Nifty past the resistance band towards 6000 - 6050 zone.
Please note that the 13AMA band has risen above towards the 5950 zone and Nifty needs to keep up pace or else market may go into some range bound trading with a negative bias.


Trade as per levels.

Happy Trading !!!