NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7557	7570
5 L - AMA	7505	7523
5 AMA	7525	7545
13 AMA	7566	7565
21 AMA	7677	7715
34 AMA	7735	7805
89 AMA	7442	7385
144 AMA	7185	7110

NIFTY BANDS :

SUPPORT :         7442 - 7480
RESISTANCE :   7560 - 7570


Nifty has been trading in a range for quite a while after the recent top at 7700.

We had advised to go longs and hold the same with the stop at the upper 89AMA band. The upper band of the 89AMA has risen to 7442 which also happens to be the last pivot low from where Nifty bounced off. At the same time, the crucial 13AMA has come down to the 7565 zone. Therefore, this makes the range absolutely crystal clear with very specific breakout points.

7440 and 7565 are the tow crucial points needed to be watched come Monday to help us get a clue of Nifty's direction and intentions.

This is where the advantage and beauty of the AMA table lies. While most classical technical analysts will be viewing the 7620 levels as important, the AMA table on the other hand has narrowed down the range even further and brought the breakout point to 7565 which gives the AMA followers a distinct first mover benefit and to top it this level is specifically for Monday and will probably lower further with each trading session.

A breakout is awaited on either side for us to take a clear directional call on Nifty. Till then we remain neutral to mildly positive.


Trade as per levels.

Happy Trading !!!


















 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7557	7540
5 L - AMA	7520	7510
5 AMA	7545	7530
13 AMA	7620	7635
21 AMA	7680	7705
34 AMA	7733	7790
89 AMA	7405	7335
144 AMA	7155	7080

NIFTY BANDS :

SUPPORT :         7520 - 7530
RESISTANCE :   7620 - 7630


As mentioned in our previous post, Nifty took support of the crucial 89AMA and bounced more than a 100 points towards 7600 !!!

We had advised to exit out of shorts and even take mild longs on account of the 34AMA running too far off from Nifty and due to the presence of the 89AMA as an important support. The markets obliged us by bouncing off from our support zone with some vengeance. However, Nifty has an important overhead resistance at the 7620 - 7630 zone where the 13AMA lies put. If Nifty manages to cross this resistance convincingly then one may carry the longs. However, inability to cross this resistance will be considered weak and we shall review the longs accordingly with a stop at our support band.

Till then ride the trend.


Trade as per levels.

Happy Trading !!!














 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7550	7560
5 L - AMA	7460	7465
5 AMA	7485	7480
13 AMA	7645	7690
21 AMA	7676	7705
34 AMA	7700	7735
89 AMA	7365	7280
144 AMA	7125	7050

NIFTY BANDS :

SUPPORT :         7400 - 7440
RESISTANCE :   7645 - 7690


Nifty in line with our sell on rise stand has continued weakening right from our sell zone of 7650.

We mentioned earlier that the 34AMA remains the most crucial. However, the 34AMA being in rising mode has risen to 7700 and above thereby widening the distance to almost 200 points. This in turn gives Nifty ample room to bounce even though the bounce may remain corrective. Even the structure of the fall post break of the 34AMA has not been severe. Support also comes in at 7400 with the upper band of the 89AMA closing in on that zone.

To sum it up, Nifty has good support in the 7400 - 7440 (today's low) band. One should book out shorts here and re-enter on a bounce close to one of the resisting AMA's or on break of the 89AMA.
One may even try mild longs with strict stop of the upper band of the 89AMA.



Trade as per levels.

Happy Trading !!!











 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7610	7580
5 L - AMA	7490	7470
5 AMA	7552	7540
13 AMA	7680	7715
21 AMA	7695	7730
34 AMA	7670	7675
89 AMA	7322	7228
144 AMA	7090	7015

NIFTY BANDS :

SUPPORT :         7470 - 7490
RESISTANCE :   7670 - 7675


Nifty fell off the resistance zone of 7600 and took support at the mild support of the short term
5L-AMA and also closed just at the borderline of the 5AMA as mentioned in our previous post.

The important support and resistance bands for the Nifty are the 89 & 34AMA respectively. However, Nifty is placed far off from both of these for the time being. The idea would be to sell as close to the resistance of the 34AMA as possible. Thus, Nifty has ample room to bounce from this short term support zone of 7500 towards the resistance band of 7670. Only, a move below the mild support zone of 7480 will take Nifty down towards it's crucial support zone of 7300. Therefore, these short term levels must be kept in mind with the fact that the Nifty can easily bounce a 100+ points without damaging it's sell on rise stand. So, if a bounce materialises short as close as possible to the resistance band in order to minimise risk.


Trade as per levels.

Happy Trading !!!














 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7637	7605
5 L - AMA	7495	7460
5 AMA	7558	7525
13 AMA	7693	7715
21 AMA	7697	7730
34 AMA	7650	7640
89 AMA	7300	7200
144 AMA	7076	7001

NIFTY BANDS :

SUPPORT :         7500 - 7525
RESISTANCE :   7640 - 7650


Nifty expectedly by showing weakness and by it's virtue of failing to pick up momentum has fallen and closed below the crucial 34AMA. Now bear in mind, that the 34AMA is the place from where Nifty bounced off earlier and a break of the same has shown a potential reversal in this rally.


The 34AMA now becomes absolutely crucial. Support comes in mildly near the 7500 zone and below that all the way down at 7300. Any bounce from here towards the 34AMA can be sold into. Keep in mind that the 34AMA is now in fast rise mode and therefore will rise significantly with each trading session.  For now, it's a Sell on Rise market.


Trade as per levels.

Happy Trading !!!













 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7757	7783
5 L - AMA	7672	7690
5 AMA	7720	7740
13 AMA	7660	7615
21 AMA	7676	7720
34 AMA	7552	7505
89 AMA	7202	7088
144 AMA	7005	6940

NIFTY BANDS :

SUPPORT :         7550 - 7615
RESISTANCE :   7690 - 7720


Nifty is still consolidating within the range of our support and resistance band. However, the outlook is starting to look a little weak unless Nifty picks up momentum soon.

The overhead resistance for Nifty now comes from all the short term 5AMA's as well as the 21AMA. The 13AMA also has caught up with Nifty which is placed precariously close to it based on today's closing. Thus, one thing becomes clear that momentum should come in soon or else we might witness Nifty breaking below the 34AMA which would give us the opportunity to go in for shorts. For now, the neutral stand remains.

Tomorrow being a weekly close will bring in more clues.


Trade as per levels

Happy Trading !!!












 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7780	7810
5 L - AMA	7675	7700
5 AMA	7730	7760
13 AMA	7630	7580
21 AMA	7650	7695
34 AMA	7520	7465
89 AMA	7175	7060
144 AMA	6985	6920

NIFTY BANDS :

SUPPORT :          7520 - 7580
RESISTANCE :    7650 - 7700


Nifty took resistance at our mentioned resistance band and sold off nearly a 100 points from the highs to take support at the 13AMA. That's how brilliantly the AMA support and resistance levels work.

As one can see with today's price action Nifty has weakened a bit and the next 2 trading sessions remain absolutely crucial. The Nifty is trading below the 21AMA and just above the 13AMA. Therefore, the price action in the next 2 sessions will give us further clue to Nifty's underlying intentions. Break of the 13AMA will call in for aggressive shorts and break of the crucial 34AMA will enable us to go short convincingly as mentioned previously.

Holding on to the 13AMA is crucial for Nifty to maintain it's upside momentum.


Trade as per levels.

Happy Trading !!!