NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7778	7805
5 L - AMA	7732	7763
5 AMA	7770	7793
13 AMA	7642	7612
21 AMA	7682	7663
34 AMA	7780	7825
89 AMA	7722	7746
144 AMA	7430	7350

NIFTY BANDS :

SUPPORT :          7720 - 7745
RESISTANCE :    7790 - 7825


Nifty in line with our positive bias continued to rally and came within striking distance of it's ATH's near 7800.

As one can see from the AMA table that the 7720 - 7740 range becomes crucial now for Nifty as this is the band of the 89AMA. Thus, Nifty should hold onto this band to continue with it's positive momentum and rally. A break below the 89AMA would negate the bullishness and we would exit our longs and then look for shorting opportunities. One discomforting factor is the lndia Vix which is at all time lows and a spike up can cause sudden reversal in the markets. Should be monitored closely.

For now, one should ride the trend and hold longs with the mentioned stop.


Trade as per levels.

Happy Trading !!!