NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6256	6255
5 L - AMA	6210	6206
5 AMA	6253	6254
13 AMA	6168	6170
21 AMA	6083	6025
34 AMA	6115	6102
89 AMA	6266	6356
144 AMA	6185	6145

NIFTY BANDS :

SUPPORT :         6185 - 6205
RESISTANCE :   6255 - 6266


Nifty rose steadily towards the 6250 level and had a pretty range bound expiry. Nifty has been inching up steadily in line with our positive bias. Nifty is now pretty close to it's crucial resistance of 6266 which is the lower band of the 89AMA. How Nifty reacts to this resistance level remains to be seen. If Nifty manages to convincingly break above it then  it would head straight for the upper band of the 89AMA placed at 6356 which also happens to be the level from where the fall down to 5970 had occurred.

Right now Nifty is compressed between the crucial levels of 6180 and 6270. Thus, Nifty might consolidate between these levels in a triangle fashion with high probability before giving a breakout in either direction. The breakout will be followed by us to capture the new direction in it's full swing.

Till then keep a mildly positive bias.


Trade as per levels.

Happy Trading !!!










 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6217	6213
5 L - AMA	6170	6166
5 AMA	6205	6195
13 AMA	6139	6140
21 AMA	6061	6005
34 AMA	6105	6096
89 AMA	6266	6360
144 AMA	6180	6138

NIFTY BANDS :

SUPPORT :         6140 - 6180
RESISTANCE :   6266 - 6360


Nifty on expected lines has been moving up slowly and steadily in line with our positive bias. However, the momentum has been pretty tepid to say the least.

The AMA table shows that the outlook remains positive and Nifty is compressed between 2 important AMA's i.e. the 89 & 144AMA. The support for Nifty comes from the upper band of the 144AMA which lies at 6180 and the resistance comes from the lower band of the 89AMA placed at 6266. So a break on either side will help Nifty to regain momentum and give it further direction.

Till then trade with a positive bias.


Trade as per levels.
Happy Trading !!!










 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6082	6085
5 L - AMA	6016	6010
5 AMA	6055	6050
13 AMA	5998	5962
21 AMA	6023	6017
34 AMA	6090	6100
89 AMA	6280	6385
144 AMA	6173	6125

NIFTY BANDS :

SUPPORT :         6000 - 6020
RESISTANCE :   6100 - 6125


Nifty has just been dilly dallying between 6000 and 6100 for the past few trading sessions with no clear direction.

The AMA table however has turned positive with Nifty breaking above the 21AMA and on the verge of piercing through the 34AMA as well. The Big Hurdle for Nifty however remains the lower band of the 144AMA. Only if Nifty manages to stay above it then it may target the upper band of the 144AMA.

Till then the bias remains mildly positive and shorts are to be avoided at this juncture.


Trade as per levels.

Happy Trading !!!









 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6105	6117
5 L - AMA	6045	6070
5 AMA	6039	6053
13 AMA	5981	5938
21 AMA	6040	6050
34 AMA	6110	6130
89 AMA	6290	6392
144 AMA	6176	6125

NIFTY BANDS :

SUPPORT :          5940 - 5980
RESISTANCE :    6040 - 6050


Nifty having pierced through 21AMA for a day, found resistance at the 6100 zone and under heavy selling broke below the 21AMA thereby triggering our stop and reversing our trade.

The AMA table shows that resistance comes in again from the 21AMA which is now placed at the 6040 - 6050 band. Only if Nifty is able to convincingly close above the 21AMA then it will halt this downward momentum or one may expect Nifty to fall further.
Tomorrow's closing remains crucial.


Trade as per levels.

Happy Trading !!!




 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6105	6120
5 L - AMA	6088	6115
5 AMA	6082	6095
13 AMA	5990	5940
21 AMA	6062	6077
34 AMA	6125	6145
89 AMA	6295	6396
144 AMA	6178	6126

NIFTY BANDS :

SUPPORT :         6060 - 6075
RESISTANCE :   6125 - 6145


Nifty managed to pierce through and close above the 21AMA in today's trading session and with it we have booked full profits in our shorts from 6350 and reversed to longs !!

The AMA table shows that the 21AMA will now act as a crucial support and Nifty must hold onto it to build up further on it's gains. Thus, any fall must hold onto the crucial support of the 21AMA. Resistance comes in at the 34AMA & the lower band of the 144AMA.

It will be interesting to see whether Nifty can manage to break through the absolutely crucial resistance of the lower band of the 144AMA. Breaking above that will confirm our stand of a change in gears in Nifty for the time being. Not breaking above it will be considered weak and any weakness will be reviewed in the days ahead.

The stop on our longs will remain the crucial 21AMA.


Trade as per levels.

Happy Trading !!!






 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6062	6068
5 L - AMA	6016	6020
5 AMA	6050	6060
13 AMA	5985	5950
21 AMA	6083	6112
34 AMA	6146	6175
89 AMA	6301	6398
144 AMA	6180	6125

NIFTY AMA :

SUPPORT :         5950 - 5985
RESISTANCE :   6090 - 6120


Nifty has been in consolidation mode since the past few trading sessions and it is consolidating between the 13 & 21 AMA. We are holding our shorts from 6350 and Nifty has reached a crucial stage where the fate of those Shorts will be decided. If Nifty breaks above the 21AMA then we will exit our shorts and book profits. However, if Nifty is unable to cross the resistance band of 21AMA then we will hold onto our shorts and review whether Nifty takes support at the 13AMA.

Please note that the 21AMA is in falling mode and if Nifty closes above 6085 tomorrow then it will weaken the case for our Bearish stand and we should book our profits. If Nifty has to weaken from here then ideally it should be tomorrow or day after.

This week is heavy with a few events lined up coupled with Nifty at a decider point. Interesting week ahead.
Stay Alert.


Trade as per levels.

Happy Trading !!!





 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6026	6020
5 L - AMA	5958	5944
5 AMA	6023	6023
13 AMA	6002	5987
21 AMA	6098	6132
34 AMA	6158	6190
89 AMA	6305	6400
144 AMA	6181	6126

NIFTY BANDS :

SUPPORT :         5987 - 6002
RESISTANCE :  6098 - 6130


Nifty closed above the 13AMA for the second consecutive day and has now inched perilously close to the 21AMA which has come down all the way to the 6100 - 6130 zone.

There are 2 probable scenarios.
First being that Nifty is unable to cross the resistance of the 21AMA and falls below the 13AMA. Thus, our shorts stay intact.
Second is that, If Nifty pierces and closes above the 21AMA then we will exit our shorts and reverse to longs above the Critical lower band of the 144AMA.

The next week is absolutely crucial. The 21AMA is in falling mode and is coming down with each passing day. Therefore, the trading session on Monday will give us further clues to Nifty's intent of whether it wants to close above the crucial 6120 - 6130 band.


Trade as per levels.

Happy Trading !!!