NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	5890	5854
5 L - AMA	5830	5797
5 AMA	5850	5810
13 AMA	6027	6102
21 AMA	5940	5968
34 AMA	5725	5606
89 AMA	5713	5713
144 AMA	5787	5770

NIFTY BANDS :

SUPPORT :         5810 - 5850
RESISTANCE :   5940 - 5970


Nifty reached exactly at our resistance band of 5920 and turned. This is the power of the AMA table :)

Now as per the table, the 21AMA has climbed up to the 5940 - 5970 band. Remember, the 5970 zone has been a critical demand and supply zone in the past. One can easily observe from the table that the 5L - AMA, 5AMA and the 5H - AMA are acting as support for the Nifty and the 21AMA has moved up further, thus making some headroom for Nifty to rise in the short term. Therefore, holding 5850 Nifty may crawl higher towards 5950 - 5970. This however will only be a opportunity to add shorts at higher levels as we know that Nifty is firmly below 21AMA and 13AMA.

Keep in mind the 21AMA & 13AMA should act as a SAR (stop & reverse). As above these Nifty will change direction and head higher.

Trade as per levels.

Happy Trading !!!