NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6162	6150
5 L - AMA	6125	6115
5 AMA	6140	6130
13 AMA	6215	6235
21 AMA	6230	6240
34 AMA	6270	6265
89 AMA	6280	6301
144 AMA	6116	6022

NIFTY BANDS :

SUPPORT :        6115 - 6130
RESISTANCE :  6215 - 6240



Nifty has been falling for the past several trading sessions but the key thing amiss is momentum. However, the AMA table clearly shows that Nifty is in SELL ON RISE mode with key resistance at the 6215 - 6240 band.

Nifty has already broken the 89AMA and therefore the trend for Nifty is firmly down. Any Rallies should be used to sell into. Nifty will now target the 144AMA and break of the same will take Nifty much lower and re-assert the trend.

Pls keep in mind that Nifty had earlier held the key supports of 89 & 144AMA multiple times and bounce off them. However, this time Nifty is firmly below the 89AMA and therefore the break of the same is even more critical.

The 13AMA should be used to stop out the shorts for aggressive traders.


Trade as per levels.

Happy Trading !!!