NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7937	7960
5 L - AMA	7878	7895
5 AMA	7927	7950
13 AMA	7770	7715
21 AMA	7799	7805
34 AMA	7813	7790
89 AMA	7915	7992
144 AMA	7665	7605

NIFTY BANDS :

SUPPORT :         7800 - 7820
RESISTANCE :   7920 - 7990


Nifty having moved in tandem with our Buy on Dips strategy has trapped majority of the bears on the street and propelled the market to new highs with some buying and some short covering.

Our Buy at 7620 levels worked perfectly with a stop at 7600 as a low risk opportunity mentioned in the previous post on 12th August. We have pocketed close to 300 points with the initial risk of a mere 20 points. This is the sheer brilliance of the AMA table which keeps churning out such trades on a regular basis. All that is needed is to follow the table with discipline and trade without emotional bias.

As per the AMA table there is resistance in the zone of 7920 - 7990 where the 89AMA is holding fort for the bears. Meaningful support comes in at 7800 - 7820. Even the short term 5AMA's have converged upwards to provide some resistance near the 7950 zone. Therefore, it is advised to book part profits in the upper band of this resistance zone and hold the rest with trailing stops at the support band.

We may expect Nifty to continue to climb upwards on holding this support band of the 34AMA although with slower momentum. As we approach the psychological 8000 mark there is bound to be some sort of profit booking and volatile moves. Thus, booking profits would be the sensible thing to do.

Till then enjoy the longs and the trending ride.


Trade as per levels.

Happy Trading !!!











 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7610	7617
5 L - AMA	7575	7585
5 AMA	7583	7580
13 AMA	7676	7710
21 AMA	7713	7720
34 AMA	7770	7755
89 AMA	7863	7930
144 AMA	7599	7532

NIFTY BANDS :

SUPPORT :          7550 - 7600
RESISTANCE :    7710 - 7720


Nifty after having consolidated in the range of 7600 - 7800 and tested the upper band of the 144AMA, has bounced back and showing signs of momentum.

As long as the 144AMA is intact and Nifty floats above it, one may expect Nifty to bounce again. Nifty will break out above 7676 which is also the lower band of the 13AMA and a break above that will bring in the needed momentum. This is a low risk buying opportunity with 7600 as the stop.

Buy on Dips.


Trade as per levels.

Happy Trading !!!











 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7868	7880
5 L - AMA	7818	7832
5 AMA	7865	7870
13 AMA	7705	7645
21 AMA	7732	7710
34 AMA	7795	7815
89 AMA	7755	7783
144 AMA	7462	7380

NIFTY BANDS :

SUPPORT :          7795 - 7815
RESISTANCE :    7865 - 7880


Nifty in line with our positive view maintained and kept it's trend intact. All Time Highs !!!


With today's move one can see that Nifty has moved into unchartered territory. If Nifty managed to hold onto the support zone of 7795 - 7815 then we can witness making some good run on the upside.
There is mild resistance in the 7865 - 7880 zone from where some profit booking may emerge especially after 8days of gains.

One should completely avoid shorts for now. Until Nifty shows some weakness and gives us confirmation by breaking below some important support zone one should be long in this market or avoid it if one is not comfortable creating longs at all time highs. For now, carry longs and ride the trend till stopped out.


Trade as per levels.

Happy Trading !!!




















 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7827	7848
5 L - AMA	7775	7787
5 AMA	7818	7827
13 AMA	7665	7612
21 AMA	7705	7680
34 AMA	7785	7820
89 AMA	7738	7765
144 AMA	7445	7365

NIFTY BANDS :

SUPPORT :         7740 - 7765
RESISTANCE :   7800 - 7820


Nifty is poised precariously though it is maintaining it's positive momentum.


As one can observe, there is close support at 7785 which happens to be the lower band of the 34AMA and there is resistance at 7820 which is the upper band of the 34AMA. If Nifty manages to hold onto the lower band and breaks past the upper band then it will move with renewed momentum into unchartered territory. The crucial support for Nifty lies in the 7740 - 7765 which is the zone of the 89AMA. This remains the most crucial support for now and will remain our SAR. As simple as that.


Trade as per levels.

Happy Trading !!!
















 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7778	7805
5 L - AMA	7732	7763
5 AMA	7770	7793
13 AMA	7642	7612
21 AMA	7682	7663
34 AMA	7780	7825
89 AMA	7722	7746
144 AMA	7430	7350

NIFTY BANDS :

SUPPORT :          7720 - 7745
RESISTANCE :    7790 - 7825


Nifty in line with our positive bias continued to rally and came within striking distance of it's ATH's near 7800.

As one can see from the AMA table that the 7720 - 7740 range becomes crucial now for Nifty as this is the band of the 89AMA. Thus, Nifty should hold onto this band to continue with it's positive momentum and rally. A break below the 89AMA would negate the bullishness and we would exit our longs and then look for shorting opportunities. One discomforting factor is the lndia Vix which is at all time lows and a spike up can cause sudden reversal in the markets. Should be monitored closely.

For now, one should ride the trend and hold longs with the mentioned stop.


Trade as per levels.

Happy Trading !!!

















 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7730	7760
5 L - AMA	7680	7715
5 AMA	7718	7760
13 AMA	7620	7612
21 AMA	7663	7650
34 AMA	7770	7825
89 AMA	7707	7728
144 AMA	7415	7335

NIFTY BANDS :

SUPPORT :         7620 - 7650
RESISTANCE :    7710 - 7730


Nifty is squeezed in a very narrow range. Both support and resistance bands are a stone's throw away.

It is quite apparent that a breakout from either of these bands will propel Nifty in that direction. Thus, one can take a trade when the breakout on either side happens. The bias is mildly positive as long as the 21AMA is held. Nifty may continue to inch higher till then, as the resistance of the 89AMA will inch higher with each trading session making room for Nifty to crawl higher.


Trade as per levels.

Happy Trading !!!













 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7520	7475
5 L - AMA	7445	7420
5 AMA	7515	7478
13 AMA	7603	7642
21 AMA	7635	7625
34 AMA	7763	7830
89 AMA	7670	7680
144 AMA	7372	7292

NIFTY BANDS :

SUPPORT :          7550 - 7600
RESISTANCE :    7670 - 7680


Nifty rallied after having found support at the upper band of the 144AMA. We had mentioned previously that one should short as close as possible to the resistance zone of the overhead AMA's.


With today's move, there is a chance to go short in Nifty with a small stop and also a chance to go long with a small stop. Keep in mind that Nifty has managed to pierce through the lower band of the 13AMA which now stands as a support at the 7600 level. Therefore, unless Nifty breaks the 7600 level decisively or breaks past the resistance at the 89AMA it can keep dilly dallying in this range. As long as 7600 holds, Nifty can keep inching higher towards the 89AMA. So one can play in this range on both long and short till a decisive move occurs.



Trade as per levels.

Happy Trading !!!