|
NIFTY AMA
|
RANGE
|
|
|
5 H - AMA
|
6265
|
6272
|
|
5 L - AMA
|
6185
|
6190
|
|
5 AMA
|
6248
|
6266
|
|
13 AMA
|
6220
|
6225
|
|
21 AMA
|
6152
|
6123
|
|
34 AMA
|
6130
|
6175
|
|
89 AMA
|
5825
|
5758
|
|
144
AMA
|
5860
|
5812
|
NIFTY BANDS :
SUPPORT : 6120 - 6150
RESISTANCE : 6220- 6225
Nifty having formed an inside day yesterday, fell heavily only to recover in the second half of the day from our support zone of 6100 - 6130 mentioned in yesterday's post. Nifty has given an early cautionary signal by closing below the 13AMA which has moved up to the resistance of 6220 - 6225. Support has now moved up to the 6120 - 6150 zone. So a move below today's low would dent this uptrend and make way for fresh downside.
The RBI policy is due next week and the VIX has taken support at it's 200DMA.
Nifty is at a crucial juncture and a clear picture should emerge in the next few sessions.
Trade as per levels.
Happy Trading !!!
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