|
NIFTY AMA
|
RANGE
|
|
|
5 H – AMA
|
6325
|
6350
|
|
5 L - AMA
|
6262
|
6273
|
|
5 AMA
|
6288
|
6305
|
|
13 AMA
|
6262
|
6275
|
|
21 AMA
|
6270
|
6281
|
|
34 AMA
|
6237
|
6200
|
|
89 AMA
|
6172
|
6115
|
|
144
AMA
|
6070
|
5976
|
NIFTY BANDS :
SUPPORT : 6240 - 6260
RESISTANCE : 6325 - 6350
Nifty is finding it difficult to cross the 6310 - 6320 zone and in the process of time correction, it has now reached a critical juncture. Nifty's low today coincides with the lower band of 5L-AMA & 13AMA. Therefore, it is extremely crucial that Nifty hold onto the 6260 level if it needs to continue with the rally.
A close below the 13AMA will call for building up aggressive shorts as Nifty has already closed below the 21AMA. The break of 34AMA will confirm the change in trend. So keep a watch on Nifty as the next session is also expiry for December and the year 2013.
6240 - 6260 remains a crucial band. Long above it, Short below it.
Trade as per levels.
Happy Trading !!!
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