NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6026	6020
5 L - AMA	5958	5944
5 AMA	6023	6023
13 AMA	6002	5987
21 AMA	6098	6132
34 AMA	6158	6190
89 AMA	6305	6400
144 AMA	6181	6126

NIFTY BANDS :

SUPPORT :         5987 - 6002
RESISTANCE :  6098 - 6130


Nifty closed above the 13AMA for the second consecutive day and has now inched perilously close to the 21AMA which has come down all the way to the 6100 - 6130 zone.

There are 2 probable scenarios.
First being that Nifty is unable to cross the resistance of the 21AMA and falls below the 13AMA. Thus, our shorts stay intact.
Second is that, If Nifty pierces and closes above the 21AMA then we will exit our shorts and reverse to longs above the Critical lower band of the 144AMA.

The next week is absolutely crucial. The 21AMA is in falling mode and is coming down with each passing day. Therefore, the trading session on Monday will give us further clues to Nifty's intent of whether it wants to close above the crucial 6120 - 6130 band.


Trade as per levels.

Happy Trading !!!