|
NIFTY AMA
|
RANGE
|
|
|
5 H – AMA
|
6537
|
6535
|
|
5 L - AMA
|
6505
|
6506
|
|
5 AMA
|
6503
|
6501
|
|
13 AMA
|
6600
|
6645
|
|
21 AMA
|
6545
|
6573
|
|
34 AMA
|
6393
|
6317
|
|
89 AMA
|
6356
|
6380
|
|
144
AMA
|
6318
|
6310
|
NIFTY BANDS :
SUPPORT : 6380 - 6390
RESISTANCE : 6545 - 6575
Nifty spent the entire day in a very tight range in today's trading session. As we mentioned yesterday our Short Signal has been triggered and we will Sell into any Rise in this market.
The stop for these shorts can be aligned as per one's risk taking to either the 21 or 13AMA. The 13AMA is a bit far off near 6600 - 6640 zone. Therefore, one may adopt an aggressive or conservative stance as per one's risk taking capability.
The support comes in at the 6380 - 6390 zone below which Nifty may crack wide open. Be careful with any longs. This is not the time to be buying. The AMA table is hinting that the trend has reversed and being on the wrong side of the market is not a wise idea.
We are Short at 6500+ and on any rise.
Trade as per levels.
Happy Trading !!!
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