NIFTY AMA
|
RANGE
| |
5 H - AMA
|
5822
|
5799
|
5 L - AMA
|
5748
|
5737
|
5 AMA
|
5760
|
5750
|
13 AMA
|
5946
|
6004
|
21 AMA
|
5945
|
6012
|
34 AMA
|
5742
|
5640
|
89 AMA
|
5711
|
5705
|
144 AMA
|
5788
|
5770
|
NIFTY BANDS :
SUPPORT : 5705 - 5711
RESISTANCE : 5799 - 5822
Nifty has fallen almost 400 points in quick time from the top of 6142. The AMA table shows support of the 89AMA near 5700. Now this is the last standing support for Nifty and below 5700 markets may go into freefall mode. Holding 5700 market may attempt a retracement for the entire fall and thus give a sizeable bounce back. The crucial levels to watch are the 89 and 144AMA. Closing below the 89AMA markets will further confirm the medium term bearishness. However, holding 89AMA and closing above the 144AMA markets will consolidate with an upper bias and retrace the entire fall.
Trade as per levels.
Happy Trading !!!
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