|
NIFTY AMA
|
RANGE
|
|
|
5 H - AMA
|
6040
|
6049
|
|
5 L - AMA
|
5957
|
5971
|
|
5 AMA
|
5968
|
5980
|
|
13 AMA
|
6053
|
6083
|
|
34 AMA
|
5882
|
5786
|
|
89 AMA
|
5902
|
5855
|
|
144 AMA
|
5987
|
6013
|
NIFTY BANDS :
SUPPORT : 5855 - 5900
RESISTANCE : 5960 - 5987
Nifty having confirmed the "Sell on Rises" broke down further towards the crucial 5900 and now has several overhead resistances with 144AMA also as a resistance now. A cluster of the 34 & 89AMA come in as support in the band of 5855 - 5900. A closing below the 89AMA band of 5855 will give further confirmation to the bearishness in the market. Nifty has also given a faster retracement thereby affirming the bearishness. Sell on Rises remains the trend. Stay with the trend.
Trade as per levels.
Happy Trading !!!
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