NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7675	7685
5 L - AMA	7588	7607
5 AMA	7665	7670
13 AMA	7570	7540
21 AMA	7590	7645
34 AMA	7450	7400
89 AMA	7120	7002
144 AMA	6945	6885

NIFTY BANDS :

SUPPORT :         7550 - 7570
RESISTANCE :   7675 - 7685


Nifty having broken out of the squeeze has rallied smartly and closed above all the AMA's. It is therefore in unchartered territory without any overhead resistances for now.


The key thing to observe here is that the AMA's are hot on Nifty's heels and therefore maintaining momentum is the most critical aspect. If Nifty looses momentum then it will fall below the AMA's. The most crucial remains the 34AMA from where Nifty bounced off the last time. That will remain the crucial AMA below which we can convincingly go short. Aggressive shorts can also be created on break below the 13AMA with an appropriate stop. However, till the no shorts are to indulged in and longs are to be carried with strict stops.

Till then ride the trend.


Trade as per levels.

Happy Trading !!!