NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6160	6150
5 L - AMA	6113	6102
5 AMA	6160	6154
13 AMA	6132	6126
21 AMA	6215	6250
34 AMA	6260	6317
89 AMA	6007	5926
144 AMA	5988	5937

NIFTY BANDS :

SUPPORT :         6125 - 6135
RESISTANCE :   6260 - 6317


Nothing much changed from yesterday. The 2 crucial AMA's to watch remain the 13 & 34 AMA as support and resistance respectively. Nifty consolidated after the big upmove yesterday. Till it holds 13AMA one can expect markets to test the previous broken down support of 34AMA.
Additional confirmation will be arrived with a move above the 21AMA.

However, if markets do break the 13AMA then it will signal a reversal of trend.

Another important thing to notice is the India Vix which is pretty close to it's recent low of 18.4. If Vix closes below 18.4 then it will in most probability form a positive divergence and will also give us an indication to be cautious with longs.



Trade as per levels.

Happy Trading !!!