NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6154	6160
5 L - AMA	6101	6097
5 AMA	6153	6162
13 AMA	6023	5961
21 AMA	6053	6102
34 AMA	5950	5925
89 AMA	5755	5706
144 AMA	5816	5778

NIFTY BANDS :

SUPPORT :         6050 - 6100
RESISTANCE :   6150 - 6160


Nifty having broken above the 13AMA has shown follow up buying and closed above the 21AMA. Markets are in no man's land just before the crucial US Debt Ceiling Meet on 17th Oct. Markets can swing wildly either ways from here. As per the table Nifty is above all the AMA's barring the 5H - AMA. There is overhead resistance at the 6150 level and thereafter the level to watch is 6229 which is the origination point of the downtrend. To maintain momentum Nifty has to rise sharply cuz the AMA's are fast catching up. The important ones to keep an eye on are the 21 & 34AMA. People should wait out before Nifty gives us any clue to it's future roadmap.

Or buy 6100 call and put and wait for the "Event".
The idea is to play volatility and not direction at this indecisive crucial juncture ;)


Trade as per levels.

Happy Trading !!!