NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6135	6098
5 L - AMA	5998	5980
5 AMA	6075	6065
13 AMA	6050	6099
21 AMA	5835	5785
34 AMA	5640	5512
89 AMA	5710	5732
144 AMA	5780	5767

NIFTY BANDS :

SUPPORT :          5785 - 5835
RESISTANCE :    6050 - 6100


We were expecting markets to loose momentum on account of various factors and Nifty did exactly that. Nifty shaved almost 200 points in intra and gave up almost the gains it had made post the Q.E announcement.

Now the 13AMA is firmly in place at the 6050 - 6100 band and that should be the deciding factor. Markets have support all the way down near 5800. Nifty will now consolidate with a negative bias and fall towards its support unless it takes out the 13AMA on the upside.

This rally is over guys. Very little juice left, if any on the upside. Short on every rise is the mantra.

The last support for Nifty remains the 5710 - 5780 band, where the 89 and 144AMA lie. If that breaks, even the recent low of 5118 may give way.

Short Nifty on every rise now.

Enjoy the weekend.


Happy Trading !!!