|
NIFTY AMA
|
RANGE
|
|
|
5 H – AMA
|
7827
|
7848
|
|
5 L - AMA
|
7775
|
7787
|
|
5 AMA
|
7818
|
7827
|
|
13 AMA
|
7665
|
7612
|
|
21 AMA
|
7705
|
7680
|
|
34 AMA
|
7785
|
7820
|
|
89 AMA
|
7738
|
7765
|
|
144
AMA
|
7445
|
7365
|
NIFTY BANDS :
SUPPORT : 7740 - 7765
RESISTANCE : 7800 - 7820
Nifty is poised precariously though it is maintaining it's positive momentum.
As one can observe, there is close support at 7785 which happens to be the lower band of the 34AMA and there is resistance at 7820 which is the upper band of the 34AMA. If Nifty manages to hold onto the lower band and breaks past the upper band then it will move with renewed momentum into unchartered territory. The crucial support for Nifty lies in the 7740 - 7765 which is the zone of the 89AMA. This remains the most crucial support for now and will remain our SAR. As simple as that.
Trade as per levels.
Happy Trading !!!
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