NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7557	7570
5 L - AMA	7505	7523
5 AMA	7525	7545
13 AMA	7566	7565
21 AMA	7677	7715
34 AMA	7735	7805
89 AMA	7442	7385
144 AMA	7185	7110

NIFTY BANDS :

SUPPORT :         7442 - 7480
RESISTANCE :   7560 - 7570


Nifty has been trading in a range for quite a while after the recent top at 7700.

We had advised to go longs and hold the same with the stop at the upper 89AMA band. The upper band of the 89AMA has risen to 7442 which also happens to be the last pivot low from where Nifty bounced off. At the same time, the crucial 13AMA has come down to the 7565 zone. Therefore, this makes the range absolutely crystal clear with very specific breakout points.

7440 and 7565 are the tow crucial points needed to be watched come Monday to help us get a clue of Nifty's direction and intentions.

This is where the advantage and beauty of the AMA table lies. While most classical technical analysts will be viewing the 7620 levels as important, the AMA table on the other hand has narrowed down the range even further and brought the breakout point to 7565 which gives the AMA followers a distinct first mover benefit and to top it this level is specifically for Monday and will probably lower further with each trading session.

A breakout is awaited on either side for us to take a clear directional call on Nifty. Till then we remain neutral to mildly positive.


Trade as per levels.

Happy Trading !!!