NIFTY AMA

NIFTY AMA	RANGE
5 H– AMA	8125	8163
5 L- AMA	8020	8070
5 AMA	8048	8085
13 AMA	8074	8066
21 AMA	8150	8200
34 AMA	8140	8141
89 AMA	8225	8325
144 AMA	8055	8070

NIFTY AMA :

SUPPORT :         Nil
RESISTANCE :   8070 - 8075


Nifty broke the crucial support of 8040 and has reversed gears for the moment until there are some positive clues from the AMA table.

We mentioned clearly in the last post, that there were 2 support levels and one could use either depending on their risk profile. The 1st support of 8125 got broken and we exited our longs to be safe from knee jerk reactions near ATH's and that's exactly what happened. Nifty gave a ferocious down move and also broke the crucial 2nd support zone at 8040. With this, all longs have to exit and bounces near resistance bands should be used to create shorts.

The market has changed it's gears and the AMA table suggests a Sell on Rise approach for now until Nifty manages to close above the resistance band. One should short as close as possible to the above mentioned resistance zone to keep stops minimal.


Trade as per levels.

Happy Trading !!!














 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	8150	8145
5 L - AMA	8047	8037
5 AMA	8145	8153
13 AMA	8125	8125
21 AMA	8170	8210
34 AMA	8135	8122
89 AMA	8215	8320
144 AMA	8030	8035

NIFTY BANDS :

SUPPORT :         8030 - 8040
RESISTANCE :   8170 - 8210


In our last post, we had clearly mentioned that the price action of the next 2 days would reveal Nifty's intention and it was crucial to hold onto the 144AMA support for Nifty to rally further. Bingo !!!

Markets did exactly that and saluted the support of  the 144AMA with an almost 500point rally. This is the amazing brilliance of the AMA table.

As per the AMA table, there is now short term support in the 8120 - 8130 range which is very close to today's closing and there is resistance from the 21AMA in the 8170 - 8210 band. The crucial support for Nifty however comes in at the 8030 - 8040 zone where the all critical and super support of 144AMA has come upto. Thus, traders may adopt any one of the supports as their stops depending on their personal risk profile.

 Below 8030, all longs have to exit as a convincing close below this important support zone will signal a deeper correction and we would not want to be caught on the wrong side of the market near ATH's. Such clear trend deciding levels are the forte of this table and will not be mentioned anywhere else. Everyone should utilise this to their benefit and their trading in the markets will improve by leaps and bounds.



Trade as per levels.

Happy Trading !!!















 

NIFTY AMA	RANGE
5 H – AMA	8053	8043
5 L - AMA	7963	7958
5 AMA	7975	7972
13 AMA	8137	8175
21 AMA	8152	8187
34 AMA	8090	8060
89 AMA	8180	8287
144 AMA	7968	7957

NIFTY BANDS :

SUPPORT :         7950 - 7960
RESISTANCE :   8050 - 8070


Nifty is on the verge of breaking the support of the 144AMA which has not happened in a long time. Nifty has managed to smartly bounce off this crucial support every time in this rally. Therefore, tomorrow's session becomes crucial for Nifty where it should manage to close above this important support zone.

Nifty should some convincing strength from this support zone and close comfortably above the 8000 zone to continue with its rally. Any weakness in momentum in staging a rally from this support zone will make this bounce corrective and hint at a larger decline to follow. The 144AMA is in rising mode and rising quickly at that. However, with the pace that the 144AMA is rising it looks difficult for Nifty to scale up with ferocious momentum. Thus, there are higher chances for Nifty to break down further.

The next 2 days price action will provide us with further clues. We will be ready to take a trade on either side.


Trade as per levels.

Happy Trading !!!

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	8012	7995
5 L - AMA	7977	7960
5 AMA	8013	8002
13 AMA	8007	8030
21 AMA	7920	7885
34 AMA	7915	7875
89 AMA	8015	8100
144 AMA	7780	7734

NIFTY BANDS :

SUPPORT :          7915 - 7920
RESISTANCE :    8030 - 8100


First things first. Three cheers on this jubilant time for the Indian Markets.
Nifty has a historic high of 8000++ !!!! Well Done.

In line with our buy on dips expectations and from our buy level of 7620 Nifty has given more than 400 points positionally. In our previous post we had mentioned to book part profits near the upper zone of the resistance band near 7990. Well that target was achieved and crossed with some vigour by the Dalal Street Bulls. We will now trail the rest of the longs with a stop at the support band of the 21AMA which is currently placed at the 7920 zone and will rise with each trading session.

One thing that can be noticed from the AMA table is that the 7970 - 8000 band becomes very crucial for the Nifty to hold onto in order to continue with this momentum and rally. Let me explain. As one can see the 13AMA has risen right upto the 8000 - 8030 zone. Therefore, Nifty should not loose momentum at this stage or else it will fall below the 13AMA which will slightly dampen the bull scenario. There is also overhead resistance in the form of upper band of the 89AMA placed at 8100 which is yet to be crossed for Nifty to go into unchartered territory. Nifty has managed to close above the lower band of the 89AMA and should hold onto this in order to scale up to the upper band and break above it. Thus, the zone of 7970 - 8000 becomes important to protect. Such clues can be only got from the brilliant AMA table.


The AMA table will alert us incase the trend reverses. Till then, Ride this trend up with the remaining longs and our mentioned stop loss. Even if the stop triggers we will still go home with a 300+ point gain.


Cheers.

Happy Trading !!!