|
NIFTY
AMA
|
RANGE
|
|
|
5 H- AMA
|
5637
|
5639
|
|
5 L- AMA
|
5558
|
5558
|
|
5 AMA
|
5588
|
5583
|
|
13 AMA
|
5644
|
5630
|
|
34 AMA
|
5880
|
5975
|
|
89 AMA
|
5882
|
5828
|
|
144 AMA
|
6017
|
6089
|
NIFTY BANDS :
SUPPORT : 5558
RESISTANCE : 5630 - 5644
Nifty 5L -AMA band has now come down to 5558 and near the pyschological 5550 level. Below that Nifty will drift lower towards 5500 and lower. For a reverse in the downtrend Nifty has to close above the resistance band of 5630 - 5640. The band of 5630 - 40 is crucial as we have the 5H - AMA and the 13 AMA band converging in that zone. Therefore, it becomes a crucial and important resistance band for tomm.
Markets may keep drifting lower till it stays below the resistance band and till it keeps breaking 5L - AMA.
Happy Trading !!!
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