NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7452	7495
5 L - AMA	7300	7290
5 AMA	7345	7345
13 AMA	7255	7233
21 AMA	7130	7060
34 AMA	7099	7090
89 AMA	6830	6740
144 AMA	6740	6727

NIFTY BANDS :

SUPPORT :         7230 - 7255
RESISTANCE :   7345 - 7450


Nifty is yet in consolidation mode after the election peak of 7500. However, with this consumption of time the AMA's have done some catching up and the crucial 13 & 21AMA are within striking distance.

Nifty has closed right at the support of the 13AMA today. So tomorrow becomes a crucial and decider day for Nifty. If Nifty has to continue with it's bullish rally then it has to be now or else it will fall below the 13AMA. Therefore, either Nifty stages a good bounce tomorrow or any unwarranted signs of weakness might throw in the opportunity to go in for aggressive shorts.

If the latter happens and Nifty does loose momentum then it may be an early cautionary signal of the markets changing gears silently while the attention is drawn towards flying midcap and smallcap stocks. Whatever the path, we will follow.


Trade as per AMA levels.

Happy Trading !!!