NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7868	7880
5 L - AMA	7818	7832
5 AMA	7865	7870
13 AMA	7705	7645
21 AMA	7732	7710
34 AMA	7795	7815
89 AMA	7755	7783
144 AMA	7462	7380

NIFTY BANDS :

SUPPORT :          7795 - 7815
RESISTANCE :    7865 - 7880


Nifty in line with our positive view maintained and kept it's trend intact. All Time Highs !!!


With today's move one can see that Nifty has moved into unchartered territory. If Nifty managed to hold onto the support zone of 7795 - 7815 then we can witness making some good run on the upside.
There is mild resistance in the 7865 - 7880 zone from where some profit booking may emerge especially after 8days of gains.

One should completely avoid shorts for now. Until Nifty shows some weakness and gives us confirmation by breaking below some important support zone one should be long in this market or avoid it if one is not comfortable creating longs at all time highs. For now, carry longs and ride the trend till stopped out.


Trade as per levels.

Happy Trading !!!




















 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7827	7848
5 L - AMA	7775	7787
5 AMA	7818	7827
13 AMA	7665	7612
21 AMA	7705	7680
34 AMA	7785	7820
89 AMA	7738	7765
144 AMA	7445	7365

NIFTY BANDS :

SUPPORT :         7740 - 7765
RESISTANCE :   7800 - 7820


Nifty is poised precariously though it is maintaining it's positive momentum.


As one can observe, there is close support at 7785 which happens to be the lower band of the 34AMA and there is resistance at 7820 which is the upper band of the 34AMA. If Nifty manages to hold onto the lower band and breaks past the upper band then it will move with renewed momentum into unchartered territory. The crucial support for Nifty lies in the 7740 - 7765 which is the zone of the 89AMA. This remains the most crucial support for now and will remain our SAR. As simple as that.


Trade as per levels.

Happy Trading !!!
















 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7778	7805
5 L - AMA	7732	7763
5 AMA	7770	7793
13 AMA	7642	7612
21 AMA	7682	7663
34 AMA	7780	7825
89 AMA	7722	7746
144 AMA	7430	7350

NIFTY BANDS :

SUPPORT :          7720 - 7745
RESISTANCE :    7790 - 7825


Nifty in line with our positive bias continued to rally and came within striking distance of it's ATH's near 7800.

As one can see from the AMA table that the 7720 - 7740 range becomes crucial now for Nifty as this is the band of the 89AMA. Thus, Nifty should hold onto this band to continue with it's positive momentum and rally. A break below the 89AMA would negate the bullishness and we would exit our longs and then look for shorting opportunities. One discomforting factor is the lndia Vix which is at all time lows and a spike up can cause sudden reversal in the markets. Should be monitored closely.

For now, one should ride the trend and hold longs with the mentioned stop.


Trade as per levels.

Happy Trading !!!

















 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7730	7760
5 L - AMA	7680	7715
5 AMA	7718	7760
13 AMA	7620	7612
21 AMA	7663	7650
34 AMA	7770	7825
89 AMA	7707	7728
144 AMA	7415	7335

NIFTY BANDS :

SUPPORT :         7620 - 7650
RESISTANCE :    7710 - 7730


Nifty is squeezed in a very narrow range. Both support and resistance bands are a stone's throw away.

It is quite apparent that a breakout from either of these bands will propel Nifty in that direction. Thus, one can take a trade when the breakout on either side happens. The bias is mildly positive as long as the 21AMA is held. Nifty may continue to inch higher till then, as the resistance of the 89AMA will inch higher with each trading session making room for Nifty to crawl higher.


Trade as per levels.

Happy Trading !!!













 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7520	7475
5 L - AMA	7445	7420
5 AMA	7515	7478
13 AMA	7603	7642
21 AMA	7635	7625
34 AMA	7763	7830
89 AMA	7670	7680
144 AMA	7372	7292

NIFTY BANDS :

SUPPORT :          7550 - 7600
RESISTANCE :    7670 - 7680


Nifty rallied after having found support at the upper band of the 144AMA. We had mentioned previously that one should short as close as possible to the resistance zone of the overhead AMA's.


With today's move, there is a chance to go short in Nifty with a small stop and also a chance to go long with a small stop. Keep in mind that Nifty has managed to pierce through the lower band of the 13AMA which now stands as a support at the 7600 level. Therefore, unless Nifty breaks the 7600 level decisively or breaks past the resistance at the 89AMA it can keep dilly dallying in this range. As long as 7600 holds, Nifty can keep inching higher towards the 89AMA. So one can play in this range on both long and short till a decisive move occurs.



Trade as per levels.

Happy Trading !!!












 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7517	7498
5 L - AMA	7377	7345
5 AMA	7415	7382
13 AMA	7610	7647
21 AMA	7650	7644
34 AMA	7763	7825
89 AMA	7643	7645
144 AMA	7349	7263

NIFTY BANDS :

SUPPORT :         7380 - 7415
RESISTANCE :   7610 - 7640


Nifty in line with our Sell On Rise stand, has moved exactly to our expecations and dropped by almost 400 points from the highs in a matter of days.

A sudden reversal has caught a lot of market participants by surprise and on the wrong foot. However, we exited our longs at 7730 and even went short courtesy the AMA table and are sitting in neat profits right now !!! That's the brilliance of this simple and highly effective table.

As one can gauge from the AMA table, Nifty has mild support in the 7380 - 7415 range and a stronger support below that at the 144AMA which happens to be the last supporting AMA. There is strong overhead resistance for Nifty above the 7600 zone. It can be easily inferred that a bounce towards 7600 would be a good shorting opportunity for those who missed the aggressive shorts from 7700+

The market trend has clearly reversed for the time being and unless the price action proves otherwise it would be prudent to adopt a Sell on Rise stance rather than a Buy on Dips. This market may drop much lower on breaking below the 144AMA.



Trade as per levels.

Happy Trading !!!
















 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7740	7738
5 L - AMA	7521	7520
5 AMA	7578	7570
13 AMA	7678	7680
21 AMA	7699	7679
34 AMA	7793	7847
89 AMA	7625	7611
144 AMA	7327	7240

NIFTY BANDS :

SUPPORT :         7520 - 7550
RESISTANCE :    7620 - 7625


Nifty swung wildly in a 250 point range from 7480 to 7730 and finally closed the day lower in the RED !!

We mentioned very clearly yesterday that there will be wild and volatile 2 way moves but where Nifty closes is more important and if it wants to continue with the bull case then it needs to close above the 89AMA which was our line in the sand.

However, with today's close in the red Nifty has closed below the 89AMA and also recorded it's highest turnover ever. These are not good signs and it clearly indicates that the tables have turned and the market has now gone into a sell on rise mode. Unless, Nifty does something dramatic and breaks past the 89AMA convincingly we will continue to have a sell on rise stance.

As one can see from the AMA table, there is mild support now near the 7520 zone. Therefore, one may expect Nifty to bounce from these levels. But there is strong overhead resistance right from 7620 till 7680. So any bounce would present a shorting opportunity. Keep in mind that the 89AMA is in rising mode and will rise with each passing session. Sell as close as possible to the resistance band to minimise risk.

On an optimistic note one can still observe Nifty's behaviour and the nature of bounce tomorrow. If Nifty is able to break and sustain above the 89AMA then bull hopes might still be salvaged. Important weekly close tomorrow coupled with Infy results.

Be Alert.


Trade as per levels.

Happy Trading !!!