NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6098	6101
5 L - AMA	6057	6062
5 AMA	6088	6103
13 AMA	6040	6006
21 AMA	6110	6114
34 AMA	6217	6283
89 AMA	6023	5936
144 AMA	6002	5946

NIFTY BANDS :

SUPPORT :         6020 - 6040
RESISTANCE :   6110 - 6115


Nifty broke out of the range on the upper side and held onto the crucial supports which was in line with our positive bias. However, the breakout is not clean yet. The table shows that the 21AMA acted as a resistance which has come down to the 6110 - 6115 zone and is right where today's high was made !! This is the beauty of the AMA table.

So in a way Nifty is still stuck in the range between 13 & 21 AMA.
Therefore, Nifty needs to break out above today's high and the 21AMA to make a decider move towards the 34AMA while holding the crucial support of 13AMA.

There is a range contraction in Nifty and it should make it's move soon. The critical support band is 6020 - 6040 below which the lower band of 89 & 144 AMA at 5936 - 5946 will come into play. But if the upper band of these 2 critical AMA's gives way then I doubt the lower ends will hold as the markets have taken support multiple times at the upper end of the 89 & 144 AMA.

For now Nifty is sandwiched between 13 & 21 AMA. Breakout on either side is awaited.


Trade as per levels.

Happy Trading !!!








 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6066	6047
5 L - AMA	6015	5996
5 AMA	6050	6037
13 AMA	6030	5992
21 AMA	6120	6135
34 AMA	6222	6290
89 AMA	6020	5935
144 AMA	5999	5945

NIFTY BANDS :

SUPPORT :         6000 - 6030
RESISTANCE :   6120 - 6135


Although Nifty broke yesterday's low, it mnaged to stay inside the neutral range and took support exactly at the upper end of the 13AMA. We still have a cluster of numbers showing up as support in the 6000 - 6030 zone. Hence, this remains a crucial support and as long as this support holds out we may expect Nifty to test the 21AMA band at 6120 - 6135 zone.

It remains to be seen whether Nifty has the strength to break out above the 21AMA, above which it will go into a different orbit towards the 34AMA. However, if it is unable to break above it then we may expect some weakness to return.

To conclude, Nifty has a slight positive bias till it holds out it's support band.


Trade as per levels.

Happy Trading !!!








 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6070	6038
5 L - AMA	5990	5950
5 AMA	6025	5983
13 AMA	6034	5995
21 AMA	6135	6157
34 AMA	6230	6301
89 AMA	6020	5935
144 AMA	5998	5944

NIFTY BANDS :

SUPPORT :         5995 - 6035
RESISTANCE :   6135 - 6157


Nifty formed an inside day today. Tomorrow will be a deciding day and the break of range on either side will give a good trending move. So the neutral stand is still in place. Support exist at 13AMA placed at 5995 - 6035 zone and resistance is at the 21AMA placed at the 6135 - 6157 zone. Keep in mind the 21AMA is in falling mode and will come down with each passing trading session. The AMA table shows strong support at 6000 with several numbers clustering in that zone. Therefore break of this support will lead to some trending downmove.

Time is running out and Nifty needs to make up its mind. We will get the clue tomorrow.


Trade as per levels.

Happy Trading !!!







 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6085	6080
5 L - AMA	5982	5966
5 AMA	6030	6002
13 AMA	6042	6005
21 AMA	6145	6168
34 AMA	6237	6306
89 AMA	6016	5933
144 AMA	5996	5943

NIFTY BANDS :

SUPPORT :          6005 - 6040
RESISTANCE :    6145 - 6170


Nifty bounced off exactly from our support band of 89 & 144 AMA and has staged a strong rally. With this bounce Nifty has again crossed our SAR band of 13AMA and is now trading comfortably above it. Resistance now comes in at the 21AMA band placed at the 6145 - 6170 zone which is the area from where Nifty sold off heavily the previous time.

To sum up, markets are in neutral zone. The bounce may continue for some more time and if this bounce manages to close above the 21AMA then we will head straight towards the upper end of the 34AMA towards 6300+

As long as the 13AMA holds there is no danger to this bounce but if it gives way with the absolutely Critical Band of 89 & 144 AMA then we may witness some fast and furious selling.


Trade as per levels.

Happy Trading !!!







 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6176	6225
5 L - AMA	6080	6130
5 AMA	6106	6170
13 AMA	6072	6047
21 AMA	6175	6205
34 AMA	6250	6315
89 AMA	6015	5930
144 AMA	5992	5940

NIFTY  BANDS :

SUPPORT :         5930 - 6015
RESISTANCE :   6050 - 6130


We mentioned in the previous post that the 13AMA is crucial to hold onto incase the Nifty wants to rally further. The Nifty broke the 13AMA violently and has reached straight for the support band of 89 & 144 AMA.

Remember the fractal we pointed out a couple of posts ago. Similar to the 21 & 34AMA, Nifty should break the support band of 89 & 144 AMA on the 3rd attempt. Well this is the 3rd attempt and we should watch whether Nifty does break this support band this time around. It had bounced off this support band twice earlier. If it does break then that would bring in some serious selling into the markets and Nifty would sell off all the way to 5700 and 5500 if we project the smaller fractal into the larger one.

Nifty can definitely give a trading bounce and the crucial levels to watch out for are the 5L-AMA and the 13AMA. Nifty needs to close above the 13AMA to change its reversed trend and above the 5L-AMA to halt this downside momentum.
Failure to do so will re-invite selling pressure and thus lead to the break of the 89 & 144 AMA.

Shorts created on break of 13AMA should be held onto with stop of 13AMA on closing basis.
Nifty is at a crucial juncture. Its a Sell on Rise for now till Nifty proves otherwise,


Trade as per levels.

Happy Trading !!!





 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6160	6150
5 L - AMA	6113	6102
5 AMA	6160	6154
13 AMA	6132	6126
21 AMA	6215	6250
34 AMA	6260	6317
89 AMA	6007	5926
144 AMA	5988	5937

NIFTY BANDS :

SUPPORT :         6125 - 6135
RESISTANCE :   6260 - 6317


Nothing much changed from yesterday. The 2 crucial AMA's to watch remain the 13 & 34 AMA as support and resistance respectively. Nifty consolidated after the big upmove yesterday. Till it holds 13AMA one can expect markets to test the previous broken down support of 34AMA.
Additional confirmation will be arrived with a move above the 21AMA.

However, if markets do break the 13AMA then it will signal a reversal of trend.

Another important thing to notice is the India Vix which is pretty close to it's recent low of 18.4. If Vix closes below 18.4 then it will in most probability form a positive divergence and will also give us an indication to be cautious with longs.



Trade as per levels.

Happy Trading !!!







 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6097	6070
5 L - AMA	6015	5990
5 AMA	6068	6038
13 AMA	6130	6143
21 AMA	6215	6260
34 AMA	6250	6302
89 AMA	6000	5918
144 AMA	5982	5932

NIFTY BANDS :

SUPPORT :         6130 - 6145
RESISTANCE :   6250 - 6300


Nifty has bounced off exactly from the "actual" support band of 89 & 144 AMA that we had been mentioning all throughout in all our previous posts.

This is the power of the AMA table.

Now there are 2 scenarios in play. Nifty has bounced convincingly from our support band and closed above the 13AMA. Therefore, the crucial support zone to watch out for becomes the 13AMA. This is the second time that markets have tested the support of the 89 & 144AMA band and bounced off it.
Thus, it is becomes absolutely critical now. As the next time will be the 3rd time test.

Please remember Nifty had behaved in a similar fashion whilst taking support from the 21 & 34AMA band.
It had bounced off twice from the support band of 21 & 34AMA before breaking it the 3rd time from the top of 6342.
If this pattern plays out on the larger frame of the 89 & 144 AMA band then markets will go into a selling frenzy and in a larger decline mode.

On the upside the resistance comes in at the critical 34AMA and Nifty is likely to retest the broken support of 34AMA.

The 2 critical bands to watch out for are the 13 & 34 AMA for Nifty's path ahead.

Apologies for the lengthy post :)


Trade as per AMA levels.

Happy Trading !!!