|
NIFTY AMA
|
RANGE
|
|
|
5 H - AMA
|
5936
|
5907
|
|
5 L - AMA
|
5868
|
5840
|
|
5 AMA
|
5905
|
5865
|
|
13 AMA
|
5913
|
5948
|
|
21 AMA
|
5707
|
5633
|
|
34 AMA
|
5567
|
5457
|
|
89 AMA
|
5695
|
5733
|
|
144
AMA
|
5770
|
5763
|
NIFTY BANDS :
SUPPORT : 5760 - 5770
RESISTANCE : 5910 - 5950
Nifty managed to break out of the narrow trading range it has been witnessing from the past few trading sessions and closed at 5900. The make or break support for Nifty remains at 5760 - 5770. A break below this support would signal end to this rally and start of a fresh downward leg. Resistance remains at 5950.
A positive Q.E announcement may push Nifty past the resistance band towards 6000 - 6050 zone.
Please note that the 13AMA band has risen above towards the 5950 zone and Nifty needs to keep up pace or else market may go into some range bound trading with a negative bias.
Trade as per levels.
Happy Trading !!!
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