|
NIFTY
AMA
|
RANGE
|
|
|
5 H- AMA
|
5627
|
5607
|
|
5 L- AMA
|
5560
|
5537
|
|
5 AMA
|
5592
|
5570
|
|
13 AMA
|
5593
|
5583
|
|
34 AMA
|
5802
|
5880
|
|
89 AMA
|
5857
|
5810
|
|
144 AMA
|
5997
|
6070
|
NIFTY BANDS :
SUPPORT 1 : 5607 - 5627
SUPPORT 2 : 5583 - 5593
RESISTANCE : 5802 - 5810
Nifty as expected showed the positive tick with a gap up opening and rallied sustaining above our levels. Now the AMA table is pretty clear. Strong support exists at 5593 for Nifty. If Nifty manages to cross the hurdle and resistance of 5700 in tomorrows trading session then the next resistance is right up at 5800 levels. Now a broad trading range of 200 points from 5600 - 5800 has opened up in Nifty between the 13AMA and 34AMA bands. Nifty will consolidate between these bands till showing a clear breakout on either AMA.
Till then trade as per levels.
Happy Trading !!!
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