NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6055	6022
5 L - AMA	5990	5955
5 AMA	6025	5986
13 AMA	6193	6240
21 AMA	6205	6207
34 AMA	6250	6260
89 AMA	6330	6398
144 AMA	6185	6117

NIFTY BANDS :

SUPPORT :         5985 - 6020
RESISTANCE :  6120 - 6185


Nifty with another gap down fell all the way down to 6030 before recovering in late trade to close near 6070. Nifty held onto the mild support of 6040 on closing basis as mentioned yesterday.

The crucial level to watch out for now becomes the lower band of the 144AMA at 6117 or 6120 rounding it off. So the stop for our shorts should be 6130 on closing basis adding a filter of 10 points. If Nifty manages to pierce and close inside the 144AMA band then the downtrend may take a halt. So the stop is being shifted to the lower band of the 144AMA which will protect our profits incase the Nifty reverses.

If Nifty is unable to close above the 6120 level that will be considered a sign of weakness & one may see Nifty drifting down again targeting much lower levels.


Trade as per levels.

Happy Trading !!!






 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6133	6117
5 L - AMA	6062	6040
5 AMA	6070	6042
13 AMA	6230	6270
21 AMA	6228	6220
34 AMA	6263	6270
89 AMA	6333	6398
144 AMA	6185	6114

NIFTY BANDS :

SUPPORT :         5970
RESISTANCE :   6185


Nifty having stayed positive for most part of the day witnessed heavy selling in the later part of the trading session and closed in the Red.

It was clearly mentioned in yesterday's post that the crucial resistance level for Nifty remains the upper band of the 144AMA where the 5H-AMA was also placed. Nifty made a high of 6170 before falling all the way down to 6110 it's day low which also was the lower band of the 144AMA. How about that??

This is the beauty of the AMA table and the AMA levels. We have been able to short Nifty near it's highs of 6350 and ride the trend all the way till now. We had the upper band of the 144AMA table as the stop for our shorts & Nifty reversed today right from our mentioned resistance level thereby enabling us to still remain with the trend and carry our shorts.

The only solitary support is now coming from the lower band of the 144AMA at 6114 which should ideally give way. If Nifty breaks below that then it should witness much lower levels. Mild support is coming in from the 5L-AMA at 6040 for tomorrow's trading session. Below that there is the recent support level of 5970 which is only a temporary psychological support as there is no AMA level to signify it's importance for now.

Enjoy the Shorts.


Trade as per levels.

Happy Trading !!!







 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6184	6192
5 L - AMA	6115	6125
5 AMA	6130	6133
13 AMA	6263	6298
21 AMA	6248	6240
34 AMA	6275	6278
89 AMA	6335	6398
144 AMA	6185	6110

NIFTY BANDS :

SUPPORT :         6110 - 6125
RESISTANCE :   6185 - 6195


Nifty held onto the 6100 level on closing basis despite a Repo Hike by the RBI Governor.

Nifty is sandwiched between the upper and lower band of the 144AMA and break on either side will decide the trend ahead for Nifty. Therefore, the crucial levels remain 6110 & 6185. The importance of these levels is also supported by the 5H & 5L-AMA bands which congest around the same levels.
So it reaffirms that break on either side will help the markets gather momentum and give it direction.
The sl for our positional shorts should now be the upper band of the 144AMA. If Nifty breaks above it and sustains above it then we should book out the shorts.
Till then trade the band.


Trade as per levels.

Happy Trading !!!












 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6265	6280
5 L - AMA	6205	6220
5 AMA	6213	6233
13 AMA	6290	6308
21 AMA	6270	6257
34 AMA	6290	6291
89 AMA	6340	6401
144 AMA	6185	6108

NIFTY AMA :

SUPPORT :         6100 - 6110
RESISTANCE :   6185 - 6250


Nifty sold off heavily on the back of weak global cues and recorded it's worst fall in over 5 months. However, we had anticipated the fall by reading the signals thrown out by the AMA table much earlier.

We mentioned clearly and several times that the key difference during Nifty's last bounce toward 6350 was that it had broken below the 89AMA and any bounce was to be used to sell into and create short positions. This was further confirmed on break of the 21 & 34 AMA at 6300. Today's fall has given us a neat 200+ points from the recent highs.

The real question now remains whether Nifty can manage to hold onto the crucial 6100 level. Tomorrow being RBI Policy one can expect some wild swings both ways. Therefore, it would be important to see whether Nifty holds onto the 6110 level which is also the lower band of 144AMA on closing basis. Holding the same, a bounce can be expected and breaking below it Nifty can go into free fall mode.

The crucial level on the upside remains the upper band of the 144AMA. Conservative Traders should book out the shorts if Nifty manages to break above the upper 144AMA band decisively and the 21AMA should be the last stop for Aggressive Traders.


Trade as per levels.
Happy Trading !!!


 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6355	6354
5 L - AMA	6305	6311
5 AMA	6318	6325
13 AMA	6318	6315
21 AMA	6292	6275
34 AMA	6306	6306
89 AMA	6343	6402
144 AMA	6182	6105

NIFTY AMA :

SUPPORT :         6105 - 6180
RESISTANCE :   6305 - 6320


Nifty has failed to cross the crucial resistance of 6357 multiple times after hitting the all time high of 6415. We mentioned several times that the key difference lies in the fact that Nifty has broken below the 89AMA and has been trading below it for the past several sessions. This would make any bounce a selling opportunity until Nifty closes above the 89AMA.

Even though Nifty was rising for the past few sessions it was trading below the 89AMA and failed to cross it. Therefore, every bounce was a selling opportunity.

The AMA table clearly shows that the support now comes in only at the 144 AMA. All other AMA's are now acting as resistance bands with today's fall in Nifty. The key resistance band now lies at the 6305 - 6320 zone.

Nifty should ideally break through the solitary support of the 144AMA and when that happens Nifty will witness much lower levels. Till then hold the shorts and add more on any bounce towards 6300.


Trade as per AMA levels.

Happy Trading !!!







 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6360	6373
5 L - AMA	6302	6325
5 AMA	6315	6335
13 AMA	6240	6210
21 AMA	6270	6270
34 AMA	6292	6300
89 AMA	6320	6370
144 AMA	6149	6060

NIFTY BANDS :

SUPPORT :         6210 - 6240
RESISTANCE :   6270 - 6320


Posting after a sabbatical of 10 days. So need to get directly to what the AMA table indicates.

The AMA table shows that Nifty is in neutral zone right now with a negative bias. Presently, it's stuck between the 13 & 21+34 AMA.

Lets see why the negative bias.
As mentioned earlier, the key difference this time around is that Nifty is trading below the 89AMA unlike the previous times where Nifty bounced off the support of 89 & 144 AMA multiple times. Critically, Nifty failed to cross above the 89 AMA during this bounce and sold off exactly from the key resistance of 89AMA. Therefore, the bias remains negative and Sell on Rises. So the level of 6320 becomes all the more crucial which is the lower band of the 89 AMA.
Secondly, Nifty is also trading below the 21 & 34 AMA. Therefore, the weightage is more on the negative side proportionately. Support is coming in only from the 13 & 144 AMA.


Aggressive traders may short Nifty on every Rise towards 6320. Conservative traders may wait for price confirmation below 13AMA.


Trade as per levels.

Happy Trading !!!







 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6162	6150
5 L - AMA	6125	6115
5 AMA	6140	6130
13 AMA	6215	6235
21 AMA	6230	6240
34 AMA	6270	6265
89 AMA	6280	6301
144 AMA	6116	6022

NIFTY BANDS :

SUPPORT :        6115 - 6130
RESISTANCE :  6215 - 6240



Nifty has been falling for the past several trading sessions but the key thing amiss is momentum. However, the AMA table clearly shows that Nifty is in SELL ON RISE mode with key resistance at the 6215 - 6240 band.

Nifty has already broken the 89AMA and therefore the trend for Nifty is firmly down. Any Rallies should be used to sell into. Nifty will now target the 144AMA and break of the same will take Nifty much lower and re-assert the trend.

Pls keep in mind that Nifty had earlier held the key supports of 89 & 144AMA multiple times and bounce off them. However, this time Nifty is firmly below the 89AMA and therefore the break of the same is even more critical.

The 13AMA should be used to stop out the shorts for aggressive traders.


Trade as per levels.

Happy Trading !!!