NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	5430	5445
5 L - AMA	5325	5357
5 AMA	5370	5420
13 AMA	5345	5353
21 AMA	5365	5326
34 AMA	5544	5630
89 AMA	5760	5830
144 AMA	5825	5840

NIFTY BANDS :

SUPPORT :             NIL
RESISTANCE :     5325 - 5360
RESISTANCE 2 :  5370 - 5420


Nifty fell sharply today and broke our support levels in one clean swipe. It was repeatedly mentioned that this rally was corrective and the next leg down would start soon if the 34AMA band was not crossed. Nifty has no supports left on the downside and markets are in a free fall range. Markets may fall sharply and one definitely should not attempt any longs. One may however witness fierce pullbacks as bear market rallies are known to be quite fierce. Such rallies are only meant to be sold into as per levels on the table.
Our shorts in Nifty from 6000+ levels have yielded almost 800 points in the Nifty.
This is the power of trend following.


Trade as per levels

Happy Trading !!!


 

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	5463	5454
5 L - AMA	5350	5323
5 AMA	5420	5405
13 AMA	5375	5365
21 AMA	5405	5370
34 AMA	5578	5664
89 AMA	5778	5844
144 AMA	5837	5850

NIFTY BANDS :

SUPPORT :       5450 - 5460
RESISTANCE : 5580 - 5665


The table is pretty clear. Nifty has support at 5450 and below that strong support in the zone of 5365 - 5400.
Resistance now comes in at the 34AMA band which is at 5580 - 5664.  Until Nifty crosses the 34AMA band convincingly this remains a corrective rally and one can create shorts as close as possible to the 34AMA band.


Trade as per levels.

Happy Trading !!!

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	5350	5294
5 L - AMA	5165	5112
5 AMA	5283	5225
13 AMA	5370	5353
21 AMA	5445	5437
34 AMA	5615	5702
89 AMA	5797	5855
144 AMA	5856	5870

NIFTY BANDS :

SUPPORT :         5350 - 5370
RESISTANCE :  5440 - 5445


Nifty is in a strong bear market and a sliding rupee is not giving any comfort whatsoever to the trampled bulls. As per the AMA table Nifty is now at a crucial juncture. Support exists at 5350 - 5370 range and holding this band will be critical for the markets to show some strength. The 21AMA band is perilously close near the 5450 zone. To conclude, if Nifty manages to give a closing above 5450 then we may see a bounce in the markets and a retracement rally to this entire fall from 6000++ levels. However, not being able to sustain the 13AMA band will push the Nifty down even further and break down majorly. Setting targets on the downside would be foolish in such a strong downtrend and we will ride the trend till stopped out.


P.S. : -  We have added another fibonnaci number in our table i.e the 21AMA for further fine tuning of levels.


Trade as per levels.

Happy Investing !!!

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	5607	5580
5 L - AMA	5513	5500
5 AMA	5613	5598
13 AMA	5547	5495
34 AMA	5766	5815
89 AMA	5852	5867
144 AMA	5916	5930

NIFTY BANDS :

SUPPORT :        5608 - 5613
RESISTANCE :  5766 - 5815


Nifty showed a good bounce back today and has reached 5700 since our AMA table showed a bounce from 5550. Dats a neat 150 points. Next resistance comes in at the 34AMA band. Support is all the way down near 5600 and resistance at 5800 while Nifty is bang in the middle at 5700. Nifty may see-saw between these bands for a while before giving any directional trend.

Trade as per levels.

Happy Trading !!!

NIFTY AMA

NIFTY AMA	RANGE
5 H - AMA	5607	5580
5 L - AMA	5513	5500
5 AMA	5613	5598
13 AMA	5547	5495
34 AMA	5766	5815
89 AMA	5852	5867
144 AMA	5916	5930

NIFTY BANDS :

SUPPORT :        5608 - 5613
RESISTANCE :  5766 - 5815


Nifty showed a good bounce back today and has reached 5700 since our AMA table showed a bounce from 5550. Dats a neat 150 points. Next resistance comes in at the 34AMA band. Support is all the way down near 5600 and resistance at 5800 while Nifty is bang in the middle at 5700. Nifty may see-saw between these bands for a while before giving any directional trend.

Trade as per levels.

Happy Trading !!!