NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6210	6197
5 L - AMA	6095	6085
5 AMA	6170	6140
13 AMA	6242	6280
21 AMA	6205	6180
34 AMA	6191	6257
89 AMA	5870	5793
144 AMA	5890	5837

NIFTY BANDS :

SUPPORT :          6180 - 6205
RESISTANCE :    6242 - 6280


Nifty having thrown aside the outcome post RBI policy, rallied with a vengeance and crushed all bears with a 100++ point rally. Markets are close to it's previous highs and the rally stalled today at the 80% retracement of the previous fall. The AMA table shows that although Nifty is again above the 21 & 34AMA it is yet below the 13AMA.
At this juncture, it is a wait n watch till clear signals emerge. Have to wait n see whether market breaks above the 13AMA or breaks down below the 21 & 34AMA. Markets are waiting for another event i.e. Expiry and FOMC meet on Thursday. Have to wait for Nifty to lead and give us directions. We just have to follow.


Trade as per levels.

Happy Trading !!!