|
NIFTY AMA
|
RANGE
|
|
|
5 H – AMA
|
7610
|
7617
|
|
5 L - AMA
|
7575
|
7585
|
|
5 AMA
|
7583
|
7580
|
|
13 AMA
|
7676
|
7710
|
|
21 AMA
|
7713
|
7720
|
|
34 AMA
|
7770
|
7755
|
|
89 AMA
|
7863
|
7930
|
|
144
AMA
|
7599
|
7532
|
NIFTY BANDS :
SUPPORT : 7550 - 7600
RESISTANCE : 7710 - 7720
Nifty after having consolidated in the range of 7600 - 7800 and tested the upper band of the 144AMA, has bounced back and showing signs of momentum.
As long as the 144AMA is intact and Nifty floats above it, one may expect Nifty to bounce again. Nifty will break out above 7676 which is also the lower band of the 13AMA and a break above that will bring in the needed momentum. This is a low risk buying opportunity with 7600 as the stop.
Buy on Dips.
Trade as per levels.
Happy Trading !!!
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