NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6046	6056
5 L - AMA	5963	5970
5 AMA	6035	6042
13 AMA	5947	5890
21 AMA	6013	6090
34 AMA	5886	5850
89 AMA	5735	5695
144 AMA	5804	5773

NIFTY BANDS :

SUPPORT :          5890 - 5950
RESISTANCE :    6035 - 6090


Nifty having given a breakout above the 13AMA has run into the 21AMA roadblock. Interestingly, Nifty has closed below the 5 AMA, 5H - AMA as per the AMA table despite picking up momentum in the past few trading sessions.
At the time of writing this post, DOW is +300 and SGX is +100. There is a lot of bullishness out there. But one should be cautious as price is supreme and memory of how Nifty reversed on the opposite side when the DOW was -200 should be kept in one's mind.
The AMA table shows resistance from 6035 - 6090 & only if Nifty manages to clear this resistance band then one may witness further momentum. 6050 also happens to be the 80% retracement zone from the fall of 6142. Hence, that's an additional imp level to watch out for.

As one of my friend puts it across, tomorrow is FRY-DAY  :)



Trade as per levels.

Happy Trading !!!