NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6808	6820
5 L - AMA	6744	6753
5 AMA	6745	6751
13 AMA	6815	6818
21 AMA	6863	6883
34 AMA	6877	6945
89 AMA	6625	6570
144 AMA	6570	6575

NIFTY BANDS :

SUPPORT :         6570 - 6625
RESISTANCE :   6800 - 6815


Nifty expectedly weakened further and close near to the 6700 zone by the end of the trading session.

The 2 short term 5AMA's i.e. 5L-AMA and 5AMA converge in the zone of 6745 - 6750. Hence, it will be important for Nifty to take out this band for any short term upmove or pause in downward momentum. The crucial trend reversing AMA however remains the 13AMA which is sitting tight at 6815. This 13AMA will also act as our stop to protect our shorts and also our profits especially with VIX in the 30's.

The trend remains down and bounces are to be sold into. The 89 & 144AMA continue to rise. A break below these crucial bands will intensify the selling.


Trade as per levels.

Happy Trading !!!



















 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6844	6862
5 L - AMA	6797	6820
5 AMA	6797	6813
13 AMA	6828	6826
21 AMA	6870	6887
34 AMA	6877	6942IS
89 AMA	6615	6560
144 AMA	6563	6567

NIFTY BANDS :

SUPPORT :         6570 - 6615
RESISTANCE :   6800 - 6830


Nifty as anticipated sold off from our resistance zone and has fallen nearly a 100 points in a jiffy.

The trend as per the AMA table remains down and therefore we may witness some further weakness. Any meaningful support now only comes near the 89 & 144AMA zone which lies near the 6600 levels, almost a 150 points away !!!

6800 is now a crucial resistance zone and Nifty tried several times today to cross this critical resistance zone but to no avail as the current trend asserted itself.

The AMA table will alert us incase of a shift in trend so that we may protect our shorts and profits. Till then ride the trend and carry the Shorts. One may even add shorts incase of any bounce with an appropriate stop.


Trade as per AMA levels.

Happy Trading !!!













 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6805	6793
5 L - AMA	6730	6705
5 AMA	6775	6745
13 AMA	6820	6830
21 AMA	6840	6850
34 AMA	6825	6872
89 AMA	6572	6530
144 AMA	6525	6532

NIFTY BANDS :

SUPPORT :         6530 - 6570
RESISTANCE :   6820 - 6850


Firstly,
Apologies for the unannounced break. I was out on a long holiday. So hence, the updates had stopped. Will continue updating regularly henceforth again. Now back to the markets.


Nifty is at a very crucial and critical juncture. The AMA table shows that the 13, 21 & 34 AMA are acting as resistance and Nifty is tippingly close to them. Hence, the coming few sessions become crucial and if Nifty is unable to break through these resistant AMA's then it will seek the 89AMA all the way towards 6500 odd.

Nifty is at a juncture where the risk reward ratio heavily favours the Shorts. Hence, one should short Nifty on every rise with a stop at the upper band of the 34AMA. Failing to cross this tough resistance band will give us a good fall to capture. Whether Nifty obliges us with a price correction or only time correction will be revealed by it's price behaviour. Keep in mind volatility will be high as the VIX is trading at 34 levels.

For now, Short Nifty and add on every rise with stop at 34AMA.


Trade as per levels,

Happy Trading !!!













 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6805	6808
5 L - AMA	6742	6746
5 AMA	6778	6782
13 AMA	6756	6735
21 AMA	6767	6808
34 AMA	6650	6632
89 AMA	6470	6462
144 AMA	6433	6445

NIFTY BANDS :

SUPPORT :         6630 - 6650
RESISTANCE :   6755 - 6770


Nifty has almost confirmed a breakdown below the 13 & 21AMA in today's trading session thereby giving us a highly probable reversal scenario. The only glitch is that Nifty has closed a shade above the lower band of the 13AMA placed at 6735. However, it is expected to break and Nifty will now target the 89 & 144AMA which happen to be the crucial AMA's from where the breakout earlier happened.


We have taken a Short Trade and now maintain a SELL ON RISES stance. Resistance is at the key 13 & 21AMA. The AMA table has given us a confirmation of the loss in momentum. Nifty kept knocking at the upper band of the 21AMA but failed to break above it repeatedly. Such a price action is also similar to forming a top. This is the sheer brilliance of the AMA table !!!


For now, SELL on every Rise. Stop is small. Rewards can be BIG.



Trade as per levels.

Happy Trading !!!














 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6775	6785
5 L - AMA	6707	6715
5 AMA	6758	6766
13 AMA	6711	6690
21 AMA	6722	6765
34 AMA	6592	6560
89 AMA	6440	6441
144 AMA	6405	6415

NIFTY BANDS :

SUPPORT :         6690 - 6710
RESISTANCE :   6765 - 6785


Nifty shrugged off the RBI event and fooled both bears and bulls by doing nothing. Happy April Fool's :)


Nifty continued to knock at the upper band of the 21AMA and it moved in a tight range and closed the day neutral above the key 13 & 21AMA. With today's close the key support band has shifted to 6690 - 6710. If Nifty has to continue it's upward march then it should pick up momentum in a day or two or else it will close below it's key support of both the 13 & 21AMA which are in rising mode.

Remember, we mentioned that closing below the 13 & 21AMA for the second time will give us a high probability reversal which can be used to SELL for target of the 34AMA  and lower.

The reason for preferring a Short is due to Nifty knocking repeatedly at the upper band of the 21AMA and not breaking through. This kind of price action does not invoke confidence to buy into. The comfort and preference therefore remains to sell into on confirmation of the trigger by the AMA table.


Till then waiting patiently as the narrow range continues.


Trade as per levels.

Happy Trading !!!
















 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6755	6765
5 L - AMA	6688	6697
5 AMA	6730	6737
13 AMA	6687	6670
21 AMA	6695	6736
34 AMA	6563	6524
89 AMA	6427	6430
144 AMA	6392	6400

NIFTY BANDS :

SUPPORT :         6670 - 6690
RESISTANCE :   6736 - 6755


Nifty took resistance exactly at the upper band of the 21AMA once again and closed mildly in the positive holding marginally above the 6700 level.

Tomorrow is a critical day with the RBI Policy and a decider range for Nifty. We mentioned previously that a break below the 13 & 21AMA for the second time can prove to be a highly probable reversal scenario. Both the AMA's are very close to Nifty's closing and tomorrow's Policy day can prove to be the decider for break of the tight range.


Who will be proved a FOOL tomorrow on 1st April, 2014 .The Bulls or the Bears? Will be interesting to see.


Trade as per levels.

Happy Trading !!!