NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7470	7483
5 L - AMA	7265	7285
5 AMA	7315	7310
13 AMA	7130	7075
21 AMA	7045	6987
34 AMA	7037	7050
89 AMA	6785	6700
144 AMA	6710	6705

NIFTY BANDS :

SUPPORT :         7075 - 7130
RESISTANCE :   7310 - 7470


In our last post we had clearly mentioned about the range contraction in Nifty and break on any side would be the clue to Nifty's direction. Nifty moved spot on after having taken out our trigger and moved a massive 800 points from our break out range !!! That's the sheer brilliance of the AMA table.


As of now, Nifty having made a big move is consolidating and is currently trading below all the short term 5AMA's due to the massive profit booking post the election result. However, the 13 & 34AMA have climbed up and now sit tight in the 7050 - 7150 range. This range therefore becomes absolutely critical for Nifty to hold onto in order to continue with it's upward momentum. Therefore, a break below this support range will turn our bias and we will switch to shorts whose target will be the 89 & 144AMA from where Nifty staged the massive 800 point rally.


One can part book the longs and trail the rest with our mentioned support area as the SAR.


Trade as per AMA levels

Happy Trading !!!