NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7780	7810
5 L - AMA	7675	7700
5 AMA	7730	7760
13 AMA	7630	7580
21 AMA	7650	7695
34 AMA	7520	7465
89 AMA	7175	7060
144 AMA	6985	6920

NIFTY BANDS :

SUPPORT :          7520 - 7580
RESISTANCE :    7650 - 7700


Nifty took resistance at our mentioned resistance band and sold off nearly a 100 points from the highs to take support at the 13AMA. That's how brilliantly the AMA support and resistance levels work.

As one can see with today's price action Nifty has weakened a bit and the next 2 trading sessions remain absolutely crucial. The Nifty is trading below the 21AMA and just above the 13AMA. Therefore, the price action in the next 2 sessions will give us further clue to Nifty's underlying intentions. Break of the 13AMA will call in for aggressive shorts and break of the crucial 34AMA will enable us to go short convincingly as mentioned previously.

Holding on to the 13AMA is crucial for Nifty to maintain it's upside momentum.


Trade as per levels.

Happy Trading !!!