|
NIFTY AMA
|
RANGE
|
|
|
5 H - AMA
|
5952
|
5945
|
|
5 L - AMA
|
5873
|
5864
|
|
5 AMA
|
5890
|
5860
|
|
13 AMA
|
5875
|
5897
|
|
21 AMA
|
5660
|
5575
|
|
34 AMA
|
5540
|
5440
|
|
89 AMA
|
5690
|
5735
|
|
144
AMA
|
5768
|
5764
|
NIFTY BANDS :
SUPPORT : 5765 - 5770
RESISTANCE : 5945 - 5952
Nifty moved in a tight range today ahead of the crucial FOMC meet where the quantum of Q.E tapering will be discussed. Now, the table is perfectly aligned to reflect the crucial juncture that the market is at. Two important events are ahead of us.
The Q.E tapering & The RBI Policy on this Friday.
The 13AMA has slightly moved above the Nifty. If the outcome is positive then Nifty may rally sharply above the 13AMA and break the recent high of 5957 which is above the 5H-AMA band placed at 5945 - 5952. That may give Nifty further momentum and propel it towards 6000+.
A negative outcome however may push the Nifty towards the crucial 5760 - 5770 zone. A break below this 144AMA band will signal an end of this rally and start of a fresh downtrend.
Keep your eyes open. Its a crucial week.
Trade as per levels.
Happy Trading !!!
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