|
NIFTY
AMA
|
RANGE
|
|
|
5 H- AMA
|
5722
|
5728
|
|
5 L- AMA
|
5673
|
5678
|
|
5 AMA
|
5685
|
5687
|
|
13 AMA
|
5782
|
5785
|
|
34 AMA
|
6027
|
6138
|
|
89 AMA
|
5922
|
5859
|
|
144 AMA
|
6038
|
6104
|
NIFTY BANDS :
SUPPORT : 5673 - 5687
RESISTANCE 1 : 5722 - 5728
RESISTANCE 2 : 5782 - 5785
As expected Nifty has seen swift movements on the downside. Now for tomorrow's trading session immediate supports exist at the 5670 - 5685 band coinciding with todays low. Immediate resistance is at the 5720 - 5730 band which coincides with todays high & above that Nifty will face stiff resistance at the 13AMA band at 5780 - 5785. Therefore, above the 5H - AMA band one may expect a bounce till the 5780 levels. However, the trend for Nifty is firmly down and one can expect resumption of downtrend post this trading bounce. A move below the 5 L-AMA band will see Nifty making swift movements towards 5600 or lower.
Till then enjoy the shorts.
Happy Trading !!!
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