|
NIFTY AMA
|
RANGE
|
|
|
5 H - AMA
|
5377
|
5392
|
|
5 L - AMA
|
5230
|
5254
|
|
5 AMA
|
5330
|
5329
|
|
13 AMA
|
5310
|
5318
|
|
21 AMA
|
5320
|
5275
|
|
34 AMA
|
5490
|
5575
|
|
89 AMA
|
5733
|
5810
|
|
144
AMA
|
5802
|
5815
|
NIFTY BANDS :
SUPPORT : 5310 - 5330
RESISTANCE : 5490 - 5575
Nifty is at it's most crucial point. Tomorrow is weekly & monthly closing for Nifty. So definitely expect some volatility and an attempt by bears to hammer down the Nifty.
The table reflects the critical juncture that Nifty is at. If Nifty manages to cross the 34AMA band placed at 5490 - 5575 then we may expect a pause and halt in this downtrend and expect a retrace for this entire fall.
However, if that fails then the band to look for in Nifty is at 5310 - 5330. This band is extremely crucial as we have quite a few numbers popping up in that zone. If Nifty does manage to break this support band then one may even create fresh shorts, as then the fall can be really violent.
Trade as per levels.
Happy Trading !!!
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