NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	6250	6240
5 L - AMA	6188	6165
5 AMA	6232	6220
13 AMA	6199	6195
21 AMA	6133	6110
34 AMA	6100	6130
89 AMA	5812	5748
144 AMA	5850	5805

NIFTY BANDS :

SUPPORT :         6100 - 6130
RESISTANCE :   6220 - 6250


Nifty formed an inside day, after the Doji it formed yesterday. Nifty failed to show follow up buying and has not picked up momentum post the huge rally.
The AMA table lays it down pretty clearly. The 13AMA has now risen all the way towards 6200. Now it's absolutely important for Nifty to hold onto the 6200 level. A break below 6200 on closing basis would be the first cautionary signal that the uptrend has weakened and we may possibly be in for a change of trend. Additional confirmation would be obtained on breaking the confluence of 21 & 34 AMA which are now at 6100 - 6130. Breaking of these bands and closing below them will confirm the change in trend and shorts may be added aggressively.
Aggressive traders may even create shorts on break below 13AMA. Keep in mind that these AMA's are in rising mode and will rise in the days to come.

Trade as per levels.

Happy Trading !!!