|
NIFTY AMA
|
RANGE
|
|
|
5 H - AMA
|
5838
|
5816
|
|
5 L - AMA
|
5737
|
5713
|
|
5 AMA
|
5739
|
5715
|
|
13 AMA
|
5942
|
5986
|
|
34 AMA
|
5880
|
5815
|
|
89 AMA
|
5901
|
5866
|
|
144 AMA
|
5977
|
5998
|
NIFTY BANDS :
SUPPORT : 5710 - 5740
RESISTANCE : 5815 - 5840
Nifty is in a relentless downtrend. The 5L - AMA & 5 AMA band now in come in as support near sub 5700. We mentioned yesterday that market may witness two way moves with increased volatility. After breaking down the support at 5800 market fell further towards 5750. If Nifty manages to hold onto 5700 then we can see a brief halt in the strong downward momentum. However, the downward momentum should continue post the brief pause. The 34 & 89 AMA have now become strong resistances.
Trade as per levels.
Happy Trading !!!
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