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 !!!