NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	5990	5987
5 L - AMA	5918	5922
5 AMA	5966	5970
13 AMA	6073	6106
21 AMA	6140	6165
34 AMA	6202	6230
89 AMA	6315	6396
144 AMA	6183	6122

NIFTY BANDS :

SUPPORT :        5965 - 5990
RESISTANCE :  6075 - 6130


Nifty finally found some support at the 200dma after the relentless fall from 6350 to 5950. The AMA table shows that there is mild support from the 5H-AMA & 5AMA at the 5970 - 5990 zone. The crucial resistance comes in from the 13AMA which has now come down all the way to the 6070 - 6105 band. However, the line in the sand remains the lower band of the 144AMA which is placed at the 6120 level. If Nifty manages to pierce through it then it will reverse it's downtrend.

So any bounce towards the 13AMA should be used to sell into with stop placed at the lower band of the 144AMA.


Trade as per levels.

Happy Trading !!!