|
NIFTY
AMA
|
RANGE
|
|
|
5 H- AMA
|
5586
|
5560
|
|
5 L- AMA
|
5517
|
5490
|
|
5 AMA
|
5541
|
5518
|
|
13 AMA
|
5588
|
5578
|
|
34 AMA
|
5820
|
5903
|
|
89 AMA
|
5863
|
5815
|
|
144 AMA
|
6003
|
6075
|
NIFTY BANDS :
SUPPORT 1 : 5541
SUPPORT 2 : 5517
RESISTANCE : 5590
We mentioned yesterday that it is imp that Niftyy close above the 13AMA level at 5616. Nifty having moved upto 5630 in intra failed to sustain above our crucial level. This is the dynamism of AMA levels.
The 13 AMA band has now come down to 5588 and that is exactly at todays closing for Nifty. If Nifty manages to hold ground above this level and show some positive tick then we may expect some consolidation in Nifty with a positive bias and a halt in the downtrend. The next resistance band for Nifty comes near 5815. Thats far off for the time being and opens up a trading range of 200 points in Nifty if it sustains above the 13 AMA band. However, the same level can be a resistance in tomorrows trading session if Nifty is trading weak and is unable to sustain above 5590 mark.
Tomorrow being expiry also keep an eye on options open interest which will determine which way markets will swing. Till then keep the levels handy.
Happy Trading !!!!
No comments:
Post a Comment