NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6082	6085
5 L - AMA	6016	6010
5 AMA	6055	6050
13 AMA	5998	5962
21 AMA	6023	6017
34 AMA	6090	6100
89 AMA	6280	6385
144 AMA	6173	6125

NIFTY BANDS :

SUPPORT :         6000 - 6020
RESISTANCE :   6100 - 6125


Nifty has just been dilly dallying between 6000 and 6100 for the past few trading sessions with no clear direction.

The AMA table however has turned positive with Nifty breaking above the 21AMA and on the verge of piercing through the 34AMA as well. The Big Hurdle for Nifty however remains the lower band of the 144AMA. Only if Nifty manages to stay above it then it may target the upper band of the 144AMA.

Till then the bias remains mildly positive and shorts are to be avoided at this juncture.


Trade as per levels.

Happy Trading !!!









 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6105	6117
5 L - AMA	6045	6070
5 AMA	6039	6053
13 AMA	5981	5938
21 AMA	6040	6050
34 AMA	6110	6130
89 AMA	6290	6392
144 AMA	6176	6125

NIFTY BANDS :

SUPPORT :          5940 - 5980
RESISTANCE :    6040 - 6050


Nifty having pierced through 21AMA for a day, found resistance at the 6100 zone and under heavy selling broke below the 21AMA thereby triggering our stop and reversing our trade.

The AMA table shows that resistance comes in again from the 21AMA which is now placed at the 6040 - 6050 band. Only if Nifty is able to convincingly close above the 21AMA then it will halt this downward momentum or one may expect Nifty to fall further.
Tomorrow's closing remains crucial.


Trade as per levels.

Happy Trading !!!




 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6105	6120
5 L - AMA	6088	6115
5 AMA	6082	6095
13 AMA	5990	5940
21 AMA	6062	6077
34 AMA	6125	6145
89 AMA	6295	6396
144 AMA	6178	6126

NIFTY BANDS :

SUPPORT :         6060 - 6075
RESISTANCE :   6125 - 6145


Nifty managed to pierce through and close above the 21AMA in today's trading session and with it we have booked full profits in our shorts from 6350 and reversed to longs !!

The AMA table shows that the 21AMA will now act as a crucial support and Nifty must hold onto it to build up further on it's gains. Thus, any fall must hold onto the crucial support of the 21AMA. Resistance comes in at the 34AMA & the lower band of the 144AMA.

It will be interesting to see whether Nifty can manage to break through the absolutely crucial resistance of the lower band of the 144AMA. Breaking above that will confirm our stand of a change in gears in Nifty for the time being. Not breaking above it will be considered weak and any weakness will be reviewed in the days ahead.

The stop on our longs will remain the crucial 21AMA.


Trade as per levels.

Happy Trading !!!






 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6062	6068
5 L - AMA	6016	6020
5 AMA	6050	6060
13 AMA	5985	5950
21 AMA	6083	6112
34 AMA	6146	6175
89 AMA	6301	6398
144 AMA	6180	6125

NIFTY AMA :

SUPPORT :         5950 - 5985
RESISTANCE :   6090 - 6120


Nifty has been in consolidation mode since the past few trading sessions and it is consolidating between the 13 & 21 AMA. We are holding our shorts from 6350 and Nifty has reached a crucial stage where the fate of those Shorts will be decided. If Nifty breaks above the 21AMA then we will exit our shorts and book profits. However, if Nifty is unable to cross the resistance band of 21AMA then we will hold onto our shorts and review whether Nifty takes support at the 13AMA.

Please note that the 21AMA is in falling mode and if Nifty closes above 6085 tomorrow then it will weaken the case for our Bearish stand and we should book our profits. If Nifty has to weaken from here then ideally it should be tomorrow or day after.

This week is heavy with a few events lined up coupled with Nifty at a decider point. Interesting week ahead.
Stay Alert.


Trade as per levels.

Happy Trading !!!





 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6026	6020
5 L - AMA	5958	5944
5 AMA	6023	6023
13 AMA	6002	5987
21 AMA	6098	6132
34 AMA	6158	6190
89 AMA	6305	6400
144 AMA	6181	6126

NIFTY BANDS :

SUPPORT :         5987 - 6002
RESISTANCE :  6098 - 6130


Nifty closed above the 13AMA for the second consecutive day and has now inched perilously close to the 21AMA which has come down all the way to the 6100 - 6130 zone.

There are 2 probable scenarios.
First being that Nifty is unable to cross the resistance of the 21AMA and falls below the 13AMA. Thus, our shorts stay intact.
Second is that, If Nifty pierces and closes above the 21AMA then we will exit our shorts and reverse to longs above the Critical lower band of the 144AMA.

The next week is absolutely crucial. The 21AMA is in falling mode and is coming down with each passing day. Therefore, the trading session on Monday will give us further clues to Nifty's intent of whether it wants to close above the crucial 6120 - 6130 band.


Trade as per levels.

Happy Trading !!!









 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	5990	5996
5 L - AMA	5916	5925
5 AMA	5972	5975
13 AMA	6043	6063
21 AMA	6122	6152
34 AMA	6187	6220
89 AMA	6310	6397
144 AMA	6183	6125

NIFTY BANDS :

SUPPORT :         5990 - 5996
RESISTANCE :   6065 - 6125


Nifty managed to hold onto the 200dma for the second day and closed in the green by pulling back in the later half of the trading session.

The AMA table shows mild support in the 5970 - 5990 range where the 5H-AMA & 5AMA congest. Immediate resistance comes in from the 13AMA at the 6043 - 6063 band and above that lies the 21AMA coupled with the crucial lower band of the 144AMA at 6125.

If Nifty manages to pierce through and close above the 13AMA then it would be the first cautionary signal to our shorts. We would become cautious not convinced. The line in the sand would still remain the crucial 6120 - 6130 zone where now the 21AMA & the 144AMA confluence. Till that zone is protected by the bears one may comfortably hold the shorts. Above that, Shorts need to be booked out completely.

Nifty's behaviour around the 13AMA needs to be watched carefully for further clues to the inherent strength of this bounce. Friday will bring in more clues towards the weekly closing.


Trade as per levels.

Happy Trading !!!







 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	5990	5987
5 L - AMA	5918	5922
5 AMA	5966	5970
13 AMA	6073	6106
21 AMA	6140	6165
34 AMA	6202	6230
89 AMA	6315	6396
144 AMA	6183	6122

NIFTY BANDS :

SUPPORT :        5965 - 5990
RESISTANCE :  6075 - 6130


Nifty finally found some support at the 200dma after the relentless fall from 6350 to 5950. The AMA table shows that there is mild support from the 5H-AMA & 5AMA at the 5970 - 5990 zone. The crucial resistance comes in from the 13AMA which has now come down all the way to the 6070 - 6105 band. However, the line in the sand remains the lower band of the 144AMA which is placed at the 6120 level. If Nifty manages to pierce through it then it will reverse it's downtrend.

So any bounce towards the 13AMA should be used to sell into with stop placed at the lower band of the 144AMA.


Trade as per levels.

Happy Trading !!!