|
NIFTY AMA
|
RANGE
|
|
|
5 H – AMA
|
6755
|
6765
|
|
5 L - AMA
|
6688
|
6697
|
|
5 AMA
|
6730
|
6737
|
|
13 AMA
|
6687
|
6670
|
|
21 AMA
|
6695
|
6736
|
|
34 AMA
|
6563
|
6524
|
|
89 AMA
|
6427
|
6430
|
|
144
AMA
|
6392
|
6400
|
NIFTY BANDS :
SUPPORT : 6670 - 6690
RESISTANCE : 6736 - 6755
Nifty took resistance exactly at the upper band of the 21AMA once again and closed mildly in the positive holding marginally above the 6700 level.
Tomorrow is a critical day with the RBI Policy and a decider range for Nifty. We mentioned previously that a break below the 13 & 21AMA for the second time can prove to be a highly probable reversal scenario. Both the AMA's are very close to Nifty's closing and tomorrow's Policy day can prove to be the decider for break of the tight range.
Who will be proved a FOOL tomorrow on 1st April, 2014 .The Bulls or the Bears? Will be interesting to see.
Trade as per levels.
Happy Trading !!!
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