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 !!!











 

NIFTY AMA

NIFTY AMA	RANGE
5 H– AMA	8125	8163
5 L- AMA	8020	8070
5 AMA	8048	8085
13 AMA	8074	8066
21 AMA	8150	8200
34 AMA	8140	8141
89 AMA	8225	8325
144 AMA	8055	8070

NIFTY AMA :

SUPPORT :         Nil
RESISTANCE :   8070 - 8075


Nifty broke the crucial support of 8040 and has reversed gears for the moment until there are some positive clues from the AMA table.

We mentioned clearly in the last post, that there were 2 support levels and one could use either depending on their risk profile. The 1st support of 8125 got broken and we exited our longs to be safe from knee jerk reactions near ATH's and that's exactly what happened. Nifty gave a ferocious down move and also broke the crucial 2nd support zone at 8040. With this, all longs have to exit and bounces near resistance bands should be used to create shorts.

The market has changed it's gears and the AMA table suggests a Sell on Rise approach for now until Nifty manages to close above the resistance band. One should short as close as possible to the above mentioned resistance zone to keep stops minimal.


Trade as per levels.

Happy Trading !!!














 

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 !!!















 

NIFTY AMA	RANGE
5 H – AMA	8053	8043
5 L - AMA	7963	7958
5 AMA	7975	7972
13 AMA	8137	8175
21 AMA	8152	8187
34 AMA	8090	8060
89 AMA	8180	8287
144 AMA	7968	7957

NIFTY BANDS :

SUPPORT :         7950 - 7960
RESISTANCE :   8050 - 8070


Nifty is on the verge of breaking the support of the 144AMA which has not happened in a long time. Nifty has managed to smartly bounce off this crucial support every time in this rally. Therefore, tomorrow's session becomes crucial for Nifty where it should manage to close above this important support zone.

Nifty should some convincing strength from this support zone and close comfortably above the 8000 zone to continue with its rally. Any weakness in momentum in staging a rally from this support zone will make this bounce corrective and hint at a larger decline to follow. The 144AMA is in rising mode and rising quickly at that. However, with the pace that the 144AMA is rising it looks difficult for Nifty to scale up with ferocious momentum. Thus, there are higher chances for Nifty to break down further.

The next 2 days price action will provide us with further clues. We will be ready to take a trade on either side.


Trade as per levels.

Happy Trading !!!

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	8012	7995
5 L - AMA	7977	7960
5 AMA	8013	8002
13 AMA	8007	8030
21 AMA	7920	7885
34 AMA	7915	7875
89 AMA	8015	8100
144 AMA	7780	7734

NIFTY BANDS :

SUPPORT :          7915 - 7920
RESISTANCE :    8030 - 8100


First things first. Three cheers on this jubilant time for the Indian Markets.
Nifty has a historic high of 8000++ !!!! Well Done.

In line with our buy on dips expectations and from our buy level of 7620 Nifty has given more than 400 points positionally. In our previous post we had mentioned to book part profits near the upper zone of the resistance band near 7990. Well that target was achieved and crossed with some vigour by the Dalal Street Bulls. We will now trail the rest of the longs with a stop at the support band of the 21AMA which is currently placed at the 7920 zone and will rise with each trading session.

One thing that can be noticed from the AMA table is that the 7970 - 8000 band becomes very crucial for the Nifty to hold onto in order to continue with this momentum and rally. Let me explain. As one can see the 13AMA has risen right upto the 8000 - 8030 zone. Therefore, Nifty should not loose momentum at this stage or else it will fall below the 13AMA which will slightly dampen the bull scenario. There is also overhead resistance in the form of upper band of the 89AMA placed at 8100 which is yet to be crossed for Nifty to go into unchartered territory. Nifty has managed to close above the lower band of the 89AMA and should hold onto this in order to scale up to the upper band and break above it. Thus, the zone of 7970 - 8000 becomes important to protect. Such clues can be only got from the brilliant AMA table.


The AMA table will alert us incase the trend reverses. Till then, Ride this trend up with the remaining longs and our mentioned stop loss. Even if the stop triggers we will still go home with a 300+ point gain.


Cheers.

Happy Trading !!!











 

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 !!!