NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	6688	6692
5 L - AMA	6636	6646
5 AMA	6652	6661
13 AMA	6710	6718
21 AMA	6778	6795
34 AMA	6847	6917
89 AMA	6660	6601
144 AMA	6615	6625

NIFTY BANDS :

SUPPORT :         6650 - 6660
RESISTANCE :   6700 - 6710


Nifty reacted from our resistance level of the 13AMA and reached the support band of the 89AMA as mentioned earlier. Nifty has respected our support and resistance levels to the mark and that's the brilliance of the AMA levels.

For now the range is still intact and tomorrow's closing will be the most crucial before going into the "Election Event" next week. The AMA table shows that the critical range has contracted to 6650 - 6700, a mere 50 point band and what Nifty does tomorrow will be very crucial. It will in most probability be the decider for it's movement going into the event next week. The trailing stop for our shorts will now be 6700 on closing basis and will protect our profits from the Shorts of 6850+

Tomorrow crucial. Also a weekly close on the index.  So be alert.


Trade as per AMA levels.

Happy Trading !!!