NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6240	6232
5 L - AMA	6144	6124
5 AMA	6204	6182
13 AMA	6170	6158
21 AMA	6115	6107
34 AMA	6073	6098
89 AMA	5799	5736
144 AMA	5842	5798

NIFTY BANDS :

SUPPORT :         6150 - 6170
RESISTANCE :   6230 - 6240


Nifty formed a doji on daily charts today. A doji indicates indecision and a tug between the bulls and bears. If the markets fall in tomorrow's trading session then it would form a bearish "Evening Star".

Support comes in at the crucial congestion of 13, 21 & 34AMA. A break below all the 3 AMA's would suggest that this uptrend is over and a new move down has begun. The reason that these 3AMA's are absolutely critical is bcuz Nifty staged a massive rally right from the support of the 13 & 34AMA last time. Hence, a break below these AMA's would definitely suggest a change in trend. Next few sessions would be absolutely critical as Nifty would need to maintain momentum to keep up with the rising AMA's or a change in trend would occur.


Trade as per levels.

Happy Trading !!!