NIFTY AMA

NIFTY AMA	RANGE
5 H– AMA	7915	7928
5 L- AMA	7812	7820
5 AMA	7875	7893
13 AMA	7848	7827
21 AMA	7923	7918
34 AMA	8055	8120
89 AMA	8220	8320
144 AMA	8150	8210

NIFTY BANDS :

SUPPORT :         7820 - 7850
RESISTANCE :    7920 - 7930


Firstly, apologies for the inconsistent posting. Have been tied up recently and not been able to update blog regularly.


Now continuing the thread from our last post where we had clearly mentioned to adopt a "Sell on Rise" stance. That strategy has worked very well and the entire credit goes to the AMA table.

We gave an exit from our longs at 8125 and we also advised shorts below 8040. In a market where most of the analysts were clueless about Nifty's next move, the AMA table gave us near perfect long, short & profit booking points. What more do u want folks!!!

Now with today's closing Nifty has broken and closed above the 13AMA. This signals a pause in the current downtrend or may even be a hint that the correction is over. Therefore, one may book their shorts out partially and trail the rest with stop at the mentioned resistance band. To add confirmation, Nifty needs to close above the 21AMA which currently lies at the 7920 zone. A break above this zone will indicate change of gears and the market will be back in the long mode. So keep an eye on these levels. Failure to break and sustain above the 21AMA will push Nifty lower. Some decisive trend will emerge in the coming few trading sessions.


Trade as per levels.

Happy Trading !!!