|
NIFTY AMA
|
RANGE
|
|
|
5 H – AMA
|
6420
|
6426
|
|
5 L - AMA
|
6358
|
6363
|
|
5 AMA
|
6380
|
6383
|
|
13 AMA
|
6281
|
6275
|
|
21 AMA
|
6203
|
6136
|
|
34 AMA
|
6252
|
6254
|
|
89 AMA
|
6086
|
5992
|
|
144
AMA
|
6038
|
5963
|
NIFTY BANDS :
SUPPORT : 6275 - 6280
RESISTANCE : 6360 - 6380
Nifty moved perfectly within range. It took resistance at the 5H-AMA and took support at the 5L-AMA. However, with today's weakness Nifty has moved below the 5L-AMA which indicates loss of momentum.
The 13AMA has shot up to the 6275 - 6280 band. This now becomes a crucial support band for Nifty. A break below this would give us an early cautionary signal to the change of trend in Nifty. Additional confirmation would be received by break of 34AMA which would confirm the change in trend. However, till the 13AMA is held Nifty may shrug of weakness and maintain it's positive momentum.
Keep in mind that the 13AMA is in rising mode and rising fast. So Nifty needs to gather momentum soon before it runs out of time.
Trade as per levels.
Happy Trading !!!
No comments:
Post a Comment