NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6184	6192
5 L - AMA	6115	6125
5 AMA	6130	6133
13 AMA	6263	6298
21 AMA	6248	6240
34 AMA	6275	6278
89 AMA	6335	6398
144 AMA	6185	6110

NIFTY BANDS :

SUPPORT :         6110 - 6125
RESISTANCE :   6185 - 6195


Nifty held onto the 6100 level on closing basis despite a Repo Hike by the RBI Governor.

Nifty is sandwiched between the upper and lower band of the 144AMA and break on either side will decide the trend ahead for Nifty. Therefore, the crucial levels remain 6110 & 6185. The importance of these levels is also supported by the 5H & 5L-AMA bands which congest around the same levels.
So it reaffirms that break on either side will help the markets gather momentum and give it direction.
The sl for our positional shorts should now be the upper band of the 144AMA. If Nifty breaks above it and sustains above it then we should book out the shorts.
Till then trade the band.


Trade as per levels.

Happy Trading !!!