|
NIFTY AMA
|
RANGE
|
|
|
5 H – AMA
|
6190
|
6170
|
|
5 L - AMA
|
6150
|
6133
|
|
5 AMA
|
6155
|
6138
|
|
13 AMA
|
6280
|
6325
|
|
21 AMA
|
6230
|
6201
|
|
34 AMA
|
6250
|
6242
|
|
89 AMA
|
6120
|
6038
|
|
144
AMA
|
6050
|
5965
|
NIFTY BANDS :
SUPPORT : 6120 - 6155
RESISTANCE : 6230 - 6250
Nifty moved in a very narrow range today and with today's price action, all the 5AMA's are now in support mode on the Nifty. Therefore, a bounce can definitely be on the cards considering the swift fall from 6400+ levels a few days back.
The crucial resistance band comes in at the 6230 - 6250 zone. It will be important to observe Nifty's price behaviour near this resistance band to judge the strength incase any bounce does come about.
It will be prudent to notice the rising 89AMA which has climbed up all the way to the 6120 level and this will rise with each passing session. Therefore Nifty needs to pick up momentum soon if it has to stage a bounce back.
Trade as per levels.
Happy Trading !!!
No comments:
Post a Comment