|
NIFTY AMA
|
RANGE
|
|
|
5 H – AMA
|
7700
|
7692
|
|
5 L - AMA
|
7655
|
7645
|
|
5 AMA
|
7701
|
7695
|
|
13 AMA
|
7625
|
7585
|
|
21 AMA
|
7710
|
7730
|
|
34 AMA
|
7765
|
7835
|
|
89 AMA
|
7510
|
7465
|
|
144
AMA
|
7235
|
7155
|
NIFTY BANDS :
SUPPORT : 7655 - 7700
RESISTANCE : 7730 - 7770
Nifty continued with it's strong momentum and having opened gap up gave nearly a 100 point rally in today's session. ALL TIME HIGHS.
Our buy at lower levels worked very well and we are sitting in very good profits. It would be prudent to book partial profits near the resistance zone and not be complacent. The rest should be trailed with a stop at the upper band of the 13AMA. One may also use the lower band of the 21AMA as an aggressive stop on closing basis.
The rally may well continue past our resistance zone and go to knock at the upper band of the 34AMA which is placed above 7800. So there might be more steam left in this upmove.
Ride the trend with strict stops.
Trade as per levels.
Happy Trading !!!
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