NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7377	7398
5 L - AMA	7275	7270
5 AMA	7300	7302
13 AMA	7440	7515
21 AMA	7340	7310
34 AMA	7255	7215
89 AMA	6962	6855
144 AMA	6830	6800

NIFTY BANDS :

SUPPORT :         7200 - 7215
RESISTANCE :   7310 - 7340


Nifty carrying the negative bias gave us the required confirmation by not picking up momentum within the required timeframe and cracking below the 21AMA.

This is the beauty of the AMA table where one can extract price & time points thus giving one an absolute edge. We are Short on Nifty and will sell on rises. The stop remains at the 21AMA. Nifty will target the 144AMA on the downside and a break below it will open up huge downsides.

A solitary support exists at 7215 from where Nifty may attempt to bounce. However, below that is all the way down towards the 89 & 144 AMA.



Trade as per levels
Happy Trading !!!