|
NIFTY AMA
|
RANGE
|
|
|
5 H - AMA
|
5463
|
5454
|
|
5 L - AMA
|
5350
|
5323
|
|
5 AMA
|
5420
|
5405
|
|
13 AMA
|
5375
|
5365
|
|
21 AMA
|
5405
|
5370
|
|
34 AMA
|
5578
|
5664
|
|
89 AMA
|
5778
|
5844
|
|
144
AMA
|
5837
|
5850
|
NIFTY BANDS :
SUPPORT : 5450 - 5460
RESISTANCE : 5580 - 5665
The table is pretty clear. Nifty has support at 5450 and below that strong support in the zone of 5365 - 5400.
Resistance now comes in at the 34AMA band which is at 5580 - 5664. Until Nifty crosses the 34AMA band convincingly this remains a corrective rally and one can create shorts as close as possible to the 34AMA band.
Trade as per levels.
Happy Trading !!!
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