NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7730	7760
5 L - AMA	7680	7715
5 AMA	7718	7760
13 AMA	7620	7612
21 AMA	7663	7650
34 AMA	7770	7825
89 AMA	7707	7728
144 AMA	7415	7335

NIFTY BANDS :

SUPPORT :         7620 - 7650
RESISTANCE :    7710 - 7730


Nifty is squeezed in a very narrow range. Both support and resistance bands are a stone's throw away.

It is quite apparent that a breakout from either of these bands will propel Nifty in that direction. Thus, one can take a trade when the breakout on either side happens. The bias is mildly positive as long as the 21AMA is held. Nifty may continue to inch higher till then, as the resistance of the 89AMA will inch higher with each trading session making room for Nifty to crawl higher.


Trade as per levels.

Happy Trading !!!