NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6640	6664
5 L - AMA	6552	6570
5 AMA	6604	6630
13 AMA	6490	6491
21 AMA	6367	6330
34 AMA	6243	6165
89 AMA	6302	6353
144 AMA	6246	6220

NIFTY BANDS :

SUPPORT :         6490 - 6491
RESISTANCE :   6570 - 6600


Nifty has been correcting in intra since the past 2 days and consolidating after a massive run up. We have been holding our  longs since 6050 and booked out 50% near 6530 for a massive 500 points gain.

The rest of them have been trailed to the 13AMA which has now climbed perilously close to the 6500 level. It is in rising mode and rising fast. Therefore, Nifty has to keep up the momentum and close in the green in tomorrow's trading session or else we will exit completely out of our longs on any signs of weakness below the 13AMA.

The break of 13AMA will be the first cautionary signal to this uptrend. However, it wont be reason enough to go short. You should notice that the 21AMA has risen to the 6330 - 6370 levels. Only if Nifty manages to break the 21AMA as well & confirms the Reversal, then we will go SHORT.

Tomorrow remains a crucial day for Nifty.

Till then enjoy the Profits :)


Trade as per levels.

Happy Trading !!!