|
NIFTY AMA
|
RANGE
|
|
|
5 H – AMA
|
7637
|
7605
|
|
5 L - AMA
|
7495
|
7460
|
|
5 AMA
|
7558
|
7525
|
|
13 AMA
|
7693
|
7715
|
|
21 AMA
|
7697
|
7730
|
|
34 AMA
|
7650
|
7640
|
|
89 AMA
|
7300
|
7200
|
|
144
AMA
|
7076
|
7001
|
NIFTY BANDS :
SUPPORT : 7500 - 7525
RESISTANCE : 7640 - 7650
Nifty expectedly by showing weakness and by it's virtue of failing to pick up momentum has fallen and closed below the crucial 34AMA. Now bear in mind, that the 34AMA is the place from where Nifty bounced off earlier and a break of the same has shown a potential reversal in this rally.
The 34AMA now becomes absolutely crucial. Support comes in mildly near the 7500 zone and below that all the way down at 7300. Any bounce from here towards the 34AMA can be sold into. Keep in mind that the 34AMA is now in fast rise mode and therefore will rise significantly with each trading session. For now, it's a Sell on Rise market.
Trade as per levels.
Happy Trading !!!
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