NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6197	6196
5 L - AMA	6116	6106
5 AMA	6125	6115
13 AMA	6227	6267
21 AMA	6182	6154
34 AMA	6180	6250
89 AMA	5856	5782
144 AMA	5881	5830

NIFTY BANDS :

SUPPORT :         5780 - 5880
RESISTANCE :   6180 - 6230


Nifty after a series of Doji formation finally gave a breakdown and formed a bearish engulfing candlestick in today's trading session. The AMA table had however already given us the signal to go short on break of 13AMA and then the confluence band of 21 & 34AMA.

Tomorrow is the RBI policy event, followed by the FOMC meet and expiry on Thursday. So it's an eventful week. Even a positive RBI outcome should be used to create short positions as the trend is clearly down as per the AMA table. Preferred shorting zone is the near the critical resistance zone of 6180 as shown by the AMA table. Shorts created already on break of 13AMA should be held.

Target on the downside is towards the 89 & 144AMA zone.



Trade as per levels.

Happy Trading !!!