NIFTY AMA

NIFTY AMA	RANGE
5 H- AMA	5607	5580
5 L- AMA	5511	5480
5 AMA	5542	5504
13 AMA	5616	5605
34 AMA	5850	5940
89 AMA	5873	5822
144 AMA	6011	6083

NIFTY BANDS :

SUPPORT :        5480 - 5511

RESISTANCE :  5616

Nifty having taken minor support showed some strength and rallied straight into & past our resistance band of 5630 - 40. However, Nifty was unable to sustain and close above the same and drifted lower towards the end of the trading session.  Now the 5H- AMA and the 13 AMA bands have come very close to Nifty's close and near the 5600 mark. If Nifty sustains and closes above 5616 mark then we may expect the downtrend to halt and Nifty may go into sideways consolidation with a positive bias. However, if Nifty is unable to close above the 13 AMA band at 5616 then Nifty may drift lower towards 5500 (one can see that the 5L - AMA and 5 AMA bands have drifted lower) where it will find support. So tomm's session will give us further clues.

Happy Trading !!!