NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6805	6793
5 L - AMA	6730	6705
5 AMA	6775	6745
13 AMA	6820	6830
21 AMA	6840	6850
34 AMA	6825	6872
89 AMA	6572	6530
144 AMA	6525	6532

NIFTY BANDS :

SUPPORT :         6530 - 6570
RESISTANCE :   6820 - 6850


Firstly,
Apologies for the unannounced break. I was out on a long holiday. So hence, the updates had stopped. Will continue updating regularly henceforth again. Now back to the markets.


Nifty is at a very crucial and critical juncture. The AMA table shows that the 13, 21 & 34 AMA are acting as resistance and Nifty is tippingly close to them. Hence, the coming few sessions become crucial and if Nifty is unable to break through these resistant AMA's then it will seek the 89AMA all the way towards 6500 odd.

Nifty is at a juncture where the risk reward ratio heavily favours the Shorts. Hence, one should short Nifty on every rise with a stop at the upper band of the 34AMA. Failing to cross this tough resistance band will give us a good fall to capture. Whether Nifty obliges us with a price correction or only time correction will be revealed by it's price behaviour. Keep in mind volatility will be high as the VIX is trading at 34 levels.

For now, Short Nifty and add on every rise with stop at 34AMA.


Trade as per levels,

Happy Trading !!!