NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	5736	5713
5 L - AMA	5620	5601
5 AMA	5670	5650
13 AMA	5847	5886
34 AMA	5857	5812
89 AMA	5896	5870
144 AMA	5967	5985

NIFTY BANDS :

SUPPORT :       5650 - 5670
RESISTANCE : 5850 - 5870


Nifty managed to hold onto the crucial 5700 for the 2nd day. After showing a bounce and reaching near our resistance level of 34AMA, Nifty sold off intra but managed to close above the 5700 support. Now seeing the AMA table one can observe that the 5L - AMA has dropped all the way to 5600. So if the market has to catch some pace on the downside then the 5600 mark needs to be broken. That seems less of a probability for tommorow and therefore Nifty may be expected to remain range bound for some more time. The 5AMA support comes in at 5650 - 5670 and the resistance comes in at 5812, above which we have a cluster of resistance in the zone of 5850 - 5870. So a bounce in Nifty above 5812 can be expected to reach at the most till the crucial resistance band of 5850 - 5870.


Trade as per levels.

Happy Trading !!!