|
NIFTY AMA
|
RANGE
|
|
|
5 H – AMA
|
6542
|
6528
|
|
5 L - AMA
|
6495
|
6478
|
|
5 AMA
|
6511
|
6505
|
|
13 AMA
|
6600
|
6640
|
|
21 AMA
|
6532
|
6552
|
|
34 AMA
|
6375
|
6293
|
|
89 AMA
|
6348
|
6375
|
|
144
AMA
|
6307
|
6296
|
NIFTY BANDS :
SUPPORT : 6350 - 6375
RESISTANCE : 6530 - 6550
Nifty got sold into post the Fed meet and thereby triggered our SHORT after a break below the 21AMA. Although tomorrow remains crucial and Nifty should give one more closing below the 21AMA. Our Short has however been triggered and we will Sell into Rises till the 13AMA is not crossed.
Support comes in now at the crucial 6350 zone below which Nifty will crack wide open. The trend has reversed or is in the process of doing so. Be careful with longs now, any of you who may believe this to be the onset of a Bull Market. The AMA table is hinting otherwise with a loss of momentum in Nifty and reverse of trend taking place.
For Now,
SELL ON RISES.
Trade as per levels,
Happy Trading !!!
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