|
NIFTY AMA
|
RANGE
|
|
|
5 H - AMA
|
5430
|
5445
|
|
5 L - AMA
|
5325
|
5357
|
|
5 AMA
|
5370
|
5420
|
|
13 AMA
|
5345
|
5353
|
|
21 AMA
|
5365
|
5326
|
|
34 AMA
|
5544
|
5630
|
|
89 AMA
|
5760
|
5830
|
|
144
AMA
|
5825
|
5840
|
NIFTY BANDS :
SUPPORT : NIL
RESISTANCE : 5325 - 5360
RESISTANCE 2 : 5370 - 5420
Nifty fell sharply today and broke our support levels in one clean swipe. It was repeatedly mentioned that this rally was corrective and the next leg down would start soon if the 34AMA band was not crossed. Nifty has no supports left on the downside and markets are in a free fall range. Markets may fall sharply and one definitely should not attempt any longs. One may however witness fierce pullbacks as bear market rallies are known to be quite fierce. Such rallies are only meant to be sold into as per levels on the table.
Our shorts in Nifty from 6000+ levels have yielded almost 800 points in the Nifty.
This is the power of trend following.
Trade as per levels
Happy Trading !!!
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