NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6020	5998
5 L - AMA	5940	5920
5 AMA	5953	5938
13 AMA	6152	6188
21 AMA	6232	6283
34 AMA	6245	6296
89 AMA	5987	5905
144 AMA	5973	5925

NIFTY BANDS :

SUPPORT :         5920 - 5980
RESISTANCE :   6150 - 6190


Nifty has seen a relentless 7 day fall. Markets are falling and taking out all supports whatsoever. After a 300 point + drop, Nifty has reached the crucial support zone of 89 & 144 AMA. If markets are to stage a bounceback then it has to be from this critical support band that we have been mentioning. A break below this support band will add heavily to the bearishness and one may witness some heavy selling. However, if Nifty does manage to hold this support band then markets may stage a smart bounceback.
It's proving futile to catch minor supports which are giving way one by one in this fall. The AMA table shows that the 5H - AMA is now at the 6000 - 6020 zone. So a move above this will help the markets to gain some momentum on the upside towards the 13 AMA.

Crucial time ahead for Nifty.


Trade as per levels.

Happy Trading !!!






 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6155	6144
5 L - AMA	6070	6050
5 AMA	6078	6060
13 AMA	6230	6243
21 AMA	6293	6330
34 AMA	6267	6310
89 AMA	5980	5899
144 AMA	5966	5915

NIFTY BANDS :

SUPPORT :         6050 - 6080
RESISTANCE :   6144 - 6155


Nifty has fallen over 200+ points since our sell triggered near 6300. This is the 5th straight session that Nifty has been in the red. Now, 5 is an important Fibonacci number coupled with the fact that markets are in oversold territory.
The AMA table shows minor support at the 6050 - 6080 zone below which is the actual support band of 5900 - 5980 which we have been talking about since Nifty triggered a sell. It is quite possible that markets may take support at the 5 & 5L AMA and bounce back towards 5H-AMA and even 13AMA. If markets do hold out this support band then one may book profit in shorts and take minor longs with appropriate sl and reverse it on break of 5L-AMA. The nature and velocity of the bounce will have to be keenly watched to judge it's strength.


Trade as per levels.

Happy Trading !!!









 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6222	6295
5 L - AMA	6140	6120
5 AMA	6143	6123
13 AMA	6264	6270
21 AMA	6315	6345
34 AMA	6272	6311
89 AMA	5976	5892
144 AMA	5961	5908

NIFTY BANDS :

SUPPORT :         6120 - 6140
RESISTANCE :   6265 - 6315


Nifty has fallen for the 4th consecutive day. Although today's price action dented the weekly charts for Nifty, the 5 & 5L - AMA are now below the closing price and will act as a temporary support for Nifty. If Nifty manages to hold on to the 6120 - 6140 band then it may bounce back and retrace the fall from 6342. Resistance comes in at the 6265 - 6315 band. However, if the support band of 6120 gives way then a meaningful support will emerge from the 89 & 144 AMA band in the 5900 - 5970 zone. This support band will change in the days to come as both the AMA's are in rising mode.

Aggressive traders may book the shorts and use SAR with 6120 as the level which is also the low made in today's trading session.

Nifty is eventually headed for the actual support band of 89 & 144 AMA. Whether it does so after bouncing back or goes straight there remains to be seen.



Trade as per levels.

Happy Trading !!!








 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6299	6295
5 L - AMA	6219	6222
5 AMA	6211	6205
13 AMA	6288	6290
21 AMA	6325	6348
34 AMA	6276	6317
89 AMA	5970	5887
144 AMA	5955	5901

NIFTY BANDS :

SUPPORT :         5900 - 5970
RESISTANCE :   6205 - 6210


As mentioned in yesterday's post, the 6280 - 6310 zone proved to be crucial and there was massive selling pressure and as a result Nifty fell from a high of 6289 to a low of 6180. That's more than a 100+ point drop from our resistance band.

This is the power of the AMA table. Nifty is still in Sell on Rise mode. Now the table shows that the 5 & 5L AMA have dropped down to the 6200 - 6220 band. For Nifty to make any meaningful recovery and bounce back this band needs to be crossed. Or else the next support comes in at the 5900 - 5970 zone.

It is still possible for Nifty to show a retrace of the entire fall from 6342 but for that Nifty needs to cross and close above the 6220 level. However, witnessing today's price action and reversal the chances of that are dim. Tomorrow is weekly closing and the price action will be extremely important.

Shorts should be held onto for the target of 89 & 144AMA band with stop at 6220.


Trade as per levels.

Happy Trading !!!













 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6320	6335
5 L - AMA	6277	6302
5 AMA	6267	6278
13 AMA	6307	6307
21 AMA	6330	6344
34 AMA	6280	6327
89 AMA	5961	5880
144 AMA	5947	5893

NIFTY BANDS :

SUPPORT :         5880 - 5960
RESISTANCE :   6280 - 6320


Nifty showed follow up selling after yesterday's weakness. 6200 is a minor psychological support and a bounce back retracing the fall from 6342 is possible. 6280 - 6320 is a strong selling zone now where markets may witness selling pressure. Any meaningful support will come in only at the 89 & 144 AMA which are at the 5900 - 5960 zone. A break below that band will add a lot of strength to the bear camp.
As of now Nifty is in Sell on Rise mode with resistance at the 13, 21 & 34AMA and support coming in at the 89 & 144 AMA.


Trade as per levels.

Happy Trading !!!








 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6320	6335
5 L - AMA	6277	6302
5 AMA	6267	6278
13 AMA	6307	6307
21 AMA	6330	6344
34 AMA	6280	6327
89 AMA	5961	5880
144 AMA	5947	5893

NIFTY BANDS :

SUPPORT :         5880 - 5960
RESISTANCE :   6280 - 6320


Nifty showed follow up selling after yesterday's weakness. 6200 is a minor psychological support and a bounce back retracing the fall from 6342 is possible. 6280 - 6320 is a strong selling zone now where markets may witness selling pressure. Any meaningful support will come in only at the 89 & 144 AMA which are at the 5900 - 5960 zone. A break below that band will add a lot of strength to the bear camp.
As of now Nifty is in Sell on Rise mode with resistance at the 13, 21 & 34AMA and support coming in at the 89 & 144 AMA.


Trade as per levels.

Happy Trading !!!








 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6320	6335
5 L - AMA	6277	6302
5 AMA	6267	6278
13 AMA	6307	6307
21 AMA	6330	6344
34 AMA	6280	6327
89 AMA	5961	5880
144 AMA	5947	5893

NIFTY BANDS :

SUPPORT :         5880 - 5960
RESISTANCE :   6280 - 6320


Nifty showed follow up selling after yesterday's weakness. 6200 is a minor psychological support and a bounce back retracing the fall from 6342 is possible. 6280 - 6320 is a strong selling zone now where markets may witness selling pressure. Any meaningful support will come in only at the 89 & 144 AMA which are at the 5900 - 5960 zone. A break below that band will add a lot of strength to the bear camp.
As of now Nifty is in Sell on Rise mode with resistance at the 13, 21 & 34AMA and support coming in at the 89 & 144 AMA.


Trade as per levels.

Happy Trading !!!