|
NIFTY AMA
|
RANGE
|
|
|
5 H - AMA
|
6064
|
6120
|
|
5 L - AMA
|
5937
|
5972
|
|
5 AMA
|
5978
|
6022
|
|
13 AMA
|
6063
|
6150
|
|
21 AMA
|
5885
|
5863
|
|
34 AMA
|
5680
|
5551
|
|
89 AMA
|
5712
|
5721
|
|
144
AMA
|
5783
|
5767
|
NIFTY BANDS :
SUPPORT : 5863 - 5885
RESISTANCE : 5937 - 5970
Nifty took support exactly at the psychological 200DMA and the support band of 21AMA as mentioned in yesterday's post. Now we may see a bounce back in Nifty towards the 5H - AMA and 13AMA. Nifty has to pick up momentum soon or else the 21AMA will rise above it and the support will soon turn into resistance.
It's a interesting few days ahead. Nifty having taken support at the 200DMA & 21AMA will bounce upwards and retrace it's fall from 6140. It has overhead resistance at all the 5AMA's and the 13AMA. If it respects the resistance and breaks the 21AMA then the case for any upside will be severely weakened and we may see the onset of a fierce downtrend.
Trade as per levels.
Happy Trading !!!
No comments:
Post a Comment