NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	5955	5966
5 L - AMA	5838	5830
5 AMA	5883	5870
13 AMA	6053	6142
21 AMA	5914	5916
34 AMA	5703	5578
89 AMA	5712	5717
144 AMA	5785	5768

NIFTY BANDS :

SUPPORT :         5830 - 5840
RESISTANCE :   5914 - 5916


Nifty is at a crucial stage. Though Nifty did not pick up momentum, it reversed from the crucial support of 5800 and closed the day mildly negative. A lot of people on the street will view today's bounce as a positive sign as Nifty held onto the 200DMA. However, we know that the crucial thing is to look at the 21AMA and not the 200DMA.
The 21AMA is now at 5914 - 5916. So round about, 5920 should be watched crucially on the upside. If the Nifty does gather momentum and sustain above 5920 then we can expect further momentum towards 5H-AMA and 13AMA. However, not crossing above 5920 will weaken any chances of a rally and the market may begin a fresh downtrend on breaking below the 144AMA.


Trade as per levels.

Happy Trading !!!