NIFTY AMA - PART III
|
NIFTY
AMA
|
RANGE
|
|
|
5 H- AMA
|
5928
|
5918
|
|
5 L- AMA
|
5853
|
5828
|
|
5 AMA
|
5867
|
5830
|
|
13 AMA
|
5983
|
5974
|
|
34 AMA
|
6128
|
6204
|
|
89 AMA
|
5953
|
5891
|
|
144 AMA
|
6051
|
6116
|
Nifty is having support for tomm at the 5AMA band at 5830 - 5867 and so also Nifty has resistance at the 5 H-AMA band at the immediate levels of 5918 - 5928.
One can observe that the 5 AMA value is at 5830 & at the same time the 5 L-AMA is very near at 5828. This converging of multiple points gives more importance to the level and therefore 5830 is an important point to watch out for in tomm's trading session on the downside and the zone of 5920-30 on the upside.
Only trading above the 5 H-AMA band Nifty will aim for the 13AMA band at 5974-5983, the major resistance zone.
NIFTY CLOSING : 5923.85
NIFTY BANDS :
SUPPORT : 5830 - 5860
RESISTANCE : 5920 - 5930
This is the end of the Nifty Ama series & we shall soon regularly update the NIFTY AMA Table.
Happy Trading !!!
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