NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6293	6279
5 L - AMA	6211	6191
5 AMA	6284	6273
13 AMA	6278	6294
21 AMA	6267	6256
34 AMA	6224	6281
89 AMA	5900	5823
144 AMA	5907	5853

NIFTY BANDS :

SUPPORT :         6225 - 6275
RESISTANCE :   6300 - 6339


Nifty has broken above the 13AMA but it remains an unconvincing breakout. We need an additional confirmation with market sustaining it's momentum post expiry in the new series. All the 3 crucial AMA's i.e. 13, 21 & 34 AMA have risen and come near the 6225 - 6295 zone. That is pretty close to the closing price of Nifty in today's session. Therefore, the breakout remains unconvincing and needs additional confirmation by showing follow up buying and maintain it's momentum. A breakdown below all the 3 crucial AMA's will be negative and can be used as a shorting opportunity for target towards the rising 89 & 144AMA.
Market has now taken support from the 21 & 34AMA band for the second time. Will it be 3rd time lucky?? Let's wait and watch.


Trade as per levels.

Happy Trading !!!

 

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6235	6208
5 L - AMA	6157	6130
5 AMA	6218	6195
13 AMA	6257	6285
21 AMA	6235	6218
34 AMA	6205	6266
89 AMA	5884	5807
144 AMA	5897	5845

NIFTY BANDS :

SUPPORT :         6200 - 6235
RESISTANCE :   6257 - 6285


Nifty is still neutrally poised with the breakout points clear. Break above 13AMA would lead Nifty towards it's all time highs whereas break below the cluster support zone of 21 & 34AMA would dampen any prospects of a rally towards new highs and would lead to the start of the much awaited correction. Tomorrow is expiry and the crucial FOMC meet. Diwali is not too far away. Markets may dilly dally till then. If History repeats itself then we may be in for a top at Diwali.


Trade as per levels.

Happy Trading !!!








 

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6210	6197
5 L - AMA	6095	6085
5 AMA	6170	6140
13 AMA	6242	6280
21 AMA	6205	6180
34 AMA	6191	6257
89 AMA	5870	5793
144 AMA	5890	5837

NIFTY BANDS :

SUPPORT :          6180 - 6205
RESISTANCE :    6242 - 6280


Nifty having thrown aside the outcome post RBI policy, rallied with a vengeance and crushed all bears with a 100++ point rally. Markets are close to it's previous highs and the rally stalled today at the 80% retracement of the previous fall. The AMA table shows that although Nifty is again above the 21 & 34AMA it is yet below the 13AMA.
At this juncture, it is a wait n watch till clear signals emerge. Have to wait n see whether market breaks above the 13AMA or breaks down below the 21 & 34AMA. Markets are waiting for another event i.e. Expiry and FOMC meet on Thursday. Have to wait for Nifty to lead and give us directions. We just have to follow.


Trade as per levels.

Happy Trading !!!









 

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6197	6196
5 L - AMA	6116	6106
5 AMA	6125	6115
13 AMA	6227	6267
21 AMA	6182	6154
34 AMA	6180	6250
89 AMA	5856	5782
144 AMA	5881	5830

NIFTY BANDS :

SUPPORT :         5780 - 5880
RESISTANCE :   6180 - 6230


Nifty after a series of Doji formation finally gave a breakdown and formed a bearish engulfing candlestick in today's trading session. The AMA table had however already given us the signal to go short on break of 13AMA and then the confluence band of 21 & 34AMA.

Tomorrow is the RBI policy event, followed by the FOMC meet and expiry on Thursday. So it's an eventful week. Even a positive RBI outcome should be used to create short positions as the trend is clearly down as per the AMA table. Preferred shorting zone is the near the critical resistance zone of 6180 as shown by the AMA table. Shorts created already on break of 13AMA should be held.

Target on the downside is towards the 89 & 144AMA zone.



Trade as per levels.

Happy Trading !!!






 

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6275	6275
5 L - AMA	6190	6206
5 AMA	6215	6227
13 AMA	6233	6252
21 AMA	6166	6135
34 AMA	6153	6210
89 AMA	5837	5767
144 AMA	5867	5820

NIFTY BANDS :

SUPPORT :         6135 - 6155
RESISTANCE :   6200 - 6230


Nifty has been consistently making bearish candlestick patterns at it's all time highs. It formed a gravestone doji in today's trading session.  Nifty broke below the upper band of 34AMA and is now sitting right at the 21AMA and lower band of 34AMA. This zone of 6130 - 6150 is extremely crucial and a break below it would lead to a fall in markets which will target the 89 & 144AMA's towards 5850.
The AMA table gave us an early cautionary signal and aggressive shorts were advised on break below 13AMA. Conservative shorts can be added on break of mentioned support zone below which markets will gather momentum on the downside.

A retracement of the fall from 6252 is possible towards the upper band of 34AMA where shorts can be created with sl of 13AMA.


Trade as per levels.

Happy Trading !!!






 

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6265	6272
5 L - AMA	6185	6190
5 AMA	6248	6266
13 AMA	6220	6225
21 AMA	6152	6123
34 AMA	6130	6175
89 AMA	5825	5758
144 AMA	5860	5812

NIFTY BANDS :

SUPPORT :         6120 - 6150
RESISTANCE :   6220-  6225


Nifty having formed an inside day yesterday, fell heavily only to recover in the second half of the day from our support zone of 6100 - 6130 mentioned in yesterday's post. Nifty has given an early cautionary signal by closing below the 13AMA which has moved up to the resistance of 6220 - 6225. Support has now moved up to the 6120 - 6150 zone. So a move below today's low would dent this uptrend and make way for fresh downside.
The RBI policy is due next week and the VIX has taken support at it's 200DMA.
Nifty is at a crucial juncture and a clear picture should emerge in the next few sessions.


Trade as per levels.

Happy Trading !!!







 

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6250	6240
5 L - AMA	6188	6165
5 AMA	6232	6220
13 AMA	6199	6195
21 AMA	6133	6110
34 AMA	6100	6130
89 AMA	5812	5748
144 AMA	5850	5805

NIFTY BANDS :

SUPPORT :         6100 - 6130
RESISTANCE :   6220 - 6250


Nifty formed an inside day, after the Doji it formed yesterday. Nifty failed to show follow up buying and has not picked up momentum post the huge rally.
The AMA table lays it down pretty clearly. The 13AMA has now risen all the way towards 6200. Now it's absolutely important for Nifty to hold onto the 6200 level. A break below 6200 on closing basis would be the first cautionary signal that the uptrend has weakened and we may possibly be in for a change of trend. Additional confirmation would be obtained on breaking the confluence of 21 & 34 AMA which are now at 6100 - 6130. Breaking of these bands and closing below them will confirm the change in trend and shorts may be added aggressively.
Aggressive traders may even create shorts on break below 13AMA. Keep in mind that these AMA's are in rising mode and will rise in the days to come.

Trade as per levels.

Happy Trading !!!