NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7610	7580
5 L - AMA	7490	7470
5 AMA	7552	7540
13 AMA	7680	7715
21 AMA	7695	7730
34 AMA	7670	7675
89 AMA	7322	7228
144 AMA	7090	7015

NIFTY BANDS :

SUPPORT :         7470 - 7490
RESISTANCE :   7670 - 7675


Nifty fell off the resistance zone of 7600 and took support at the mild support of the short term
5L-AMA and also closed just at the borderline of the 5AMA as mentioned in our previous post.

The important support and resistance bands for the Nifty are the 89 & 34AMA respectively. However, Nifty is placed far off from both of these for the time being. The idea would be to sell as close to the resistance of the 34AMA as possible. Thus, Nifty has ample room to bounce from this short term support zone of 7500 towards the resistance band of 7670. Only, a move below the mild support zone of 7480 will take Nifty down towards it's crucial support zone of 7300. Therefore, these short term levels must be kept in mind with the fact that the Nifty can easily bounce a 100+ points without damaging it's sell on rise stand. So, if a bounce materialises short as close as possible to the resistance band in order to minimise risk.


Trade as per levels.

Happy Trading !!!