|
NIFTY AMA
|
RANGE
|
|
|
5 H – AMA
|
7418
|
7402
|
|
5 L - AMA
|
7345
|
7310
|
|
5 AMA
|
7415
|
7408
|
|
13 AMA
|
7450
|
7480
|
|
21 AMA
|
7463
|
7501
|
|
34 AMA
|
7342
|
7295
|
|
89 AMA
|
7040
|
6930
|
|
144
AMA
|
6890
|
6842
|
NIFTY BANDS :
SUPPORT : 7300 - 7350
RESISTANCE : 7450 - 7480
Nifty is yet in the range squeeze and clarity should emerge soon by the end of the week.
A move above the resistance band is needed to gather momentum. Whereas a fall below the 34AMA will be considered as a reversal and an opportunity to go short for the 89 & 144AMA and lower.
The momentum needs to be gathered quickly as the 34AMA is fast closing in on the Nifty and should be close to 7400 in a day or two. Hence, today's low becomes an important pivot for Nifty and sustaining below that might open the doorways towards it's journey downhill.
An important weekly close coming up. Be alert.
Trade as per levels.
Happy Trading !!!
No comments:
Post a Comment