NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6275	6275
5 L - AMA	6190	6206
5 AMA	6215	6227
13 AMA	6233	6252
21 AMA	6166	6135
34 AMA	6153	6210
89 AMA	5837	5767
144 AMA	5867	5820

NIFTY BANDS :

SUPPORT :         6135 - 6155
RESISTANCE :   6200 - 6230


Nifty has been consistently making bearish candlestick patterns at it's all time highs. It formed a gravestone doji in today's trading session.  Nifty broke below the upper band of 34AMA and is now sitting right at the 21AMA and lower band of 34AMA. This zone of 6130 - 6150 is extremely crucial and a break below it would lead to a fall in markets which will target the 89 & 144AMA's towards 5850.
The AMA table gave us an early cautionary signal and aggressive shorts were advised on break below 13AMA. Conservative shorts can be added on break of mentioned support zone below which markets will gather momentum on the downside.

A retracement of the fall from 6252 is possible towards the upper band of 34AMA where shorts can be created with sl of 13AMA.


Trade as per levels.

Happy Trading !!!