NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6105	6120
5 L - AMA	6088	6115
5 AMA	6082	6095
13 AMA	5990	5940
21 AMA	6062	6077
34 AMA	6125	6145
89 AMA	6295	6396
144 AMA	6178	6126

NIFTY BANDS :

SUPPORT :         6060 - 6075
RESISTANCE :   6125 - 6145


Nifty managed to pierce through and close above the 21AMA in today's trading session and with it we have booked full profits in our shorts from 6350 and reversed to longs !!

The AMA table shows that the 21AMA will now act as a crucial support and Nifty must hold onto it to build up further on it's gains. Thus, any fall must hold onto the crucial support of the 21AMA. Resistance comes in at the 34AMA & the lower band of the 144AMA.

It will be interesting to see whether Nifty can manage to break through the absolutely crucial resistance of the lower band of the 144AMA. Breaking above that will confirm our stand of a change in gears in Nifty for the time being. Not breaking above it will be considered weak and any weakness will be reviewed in the days ahead.

The stop on our longs will remain the crucial 21AMA.


Trade as per levels.

Happy Trading !!!