|
NIFTY AMA
|
RANGE
|
|
|
5 H - AMA
|
5978
|
5980
|
|
5 L - AMA
|
5894
|
5898
|
|
5 AMA
|
5905
|
5907
|
|
13 AMA
|
6035
|
6076
|
|
34 AMA
|
5885
|
5797
|
|
89 AMA
|
5905
|
5860
|
|
144 AMA
|
5985
|
6010
|
NIFTY BANDS :
SUPPORT : 5860 - 5885
RESISTANCE 1 : 5895 - 5907
RESISTANCE 2 : 5980 - 5985
Nifty in a strongly trending market has come down from 6100 to 5880 levels. A temporary bounce may be expected but the markets are in a strong downtrend and volatility is going to rise further. So all trades have to carefully executed with strict stop losses. Nifty support comes in the range of 5860 - 5885 & resistance1 comes in at 5900 - 5910 above which the AMA table shows resistance at the critical band of 5980 - 5985. Till Nifty stays below this zone markets may continue to witness selling pressure. Enjoy the shorts for now.
Trade as per levels.
Happy Trading !!!
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