NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6722	6712
5 L - AMA	6665	6647
5 AMA	6682	6670
13 AMA	6745	6745
21 AMA	6813	6833
34 AMA	6860	6930
89 AMA	6652	6593
144 AMA	6602	6612

NIFTY BANDS :

SUPPORT :         6610 - 6650
RESISTANCE :   6745 - 6800


Nifty continues with it's choppy moves and passes another session awaiting the event.


The range for Nifty continues where support is at the 89AMA and resistance at the 13AMA. A break of this range before the "Event" can give us possible clues to the direction that the market may take.

As of now, both the ways are open although with a negative bias until Nifty manages to break and close above the 13AMA. Nifty again made a high near the 13AMA in today's session but did not manage to break past it. Hence, tomorrow's price action becomes critical and it will be crucial to see whether Nifty can take out the 13AMA on a closing basis. The 13AMA remains our line in the sand and stop for our shorts.


Thus the critical range for Nifty is 6650 & 6750.


Trade as per levels.

Happy Trading !!!