NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7780	7810
5 L - AMA	7675	7700
5 AMA	7730	7760
13 AMA	7630	7580
21 AMA	7650	7695
34 AMA	7520	7465
89 AMA	7175	7060
144 AMA	6985	6920

NIFTY BANDS :

SUPPORT :          7520 - 7580
RESISTANCE :    7650 - 7700


Nifty took resistance at our mentioned resistance band and sold off nearly a 100 points from the highs to take support at the 13AMA. That's how brilliantly the AMA support and resistance levels work.

As one can see with today's price action Nifty has weakened a bit and the next 2 trading sessions remain absolutely crucial. The Nifty is trading below the 21AMA and just above the 13AMA. Therefore, the price action in the next 2 sessions will give us further clue to Nifty's underlying intentions. Break of the 13AMA will call in for aggressive shorts and break of the crucial 34AMA will enable us to go short convincingly as mentioned previously.

Holding on to the 13AMA is crucial for Nifty to maintain it's upside momentum.


Trade as per levels.

Happy Trading !!!

















 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7740	7760
5 L - AMA	7633	7645
5 AMA	7725	7745
13 AMA	7605	7560
21 AMA	7623	7670
34 AMA	7487	7435
89 AMA	7145	7030
144 AMA	6965	6902

NIFTY BANDS :

SUPPORT :         7560 - 7600
RESISTANCE :   7670 - 7740


Nifty formed a hanging man after breaking below the 7600 level in intraday to close slightly positive by the end of the day.

The AMA table shows that Nifty took support of the 13AMA and bounced but it closed the day below the upper band of the 21AMA. How Nifty reacts from these support and resistance bands from hereon will be interesting to see. Price and momentum are crucial now. As of now, Nifty is in neutral territory and longs should be held on with strict stop of the lower band of the 21AMA on closing basis.

Aggressive Shorts below 13AMA and conservative on break below the 34AMA.

Till then enjoy the trend with strict stops as a reversal here can be sharp and swift. Protect profits.


Trade as per levels.

Happy Trading !!!













 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7675	7685
5 L - AMA	7588	7607
5 AMA	7665	7670
13 AMA	7570	7540
21 AMA	7590	7645
34 AMA	7450	7400
89 AMA	7120	7002
144 AMA	6945	6885

NIFTY BANDS :

SUPPORT :         7550 - 7570
RESISTANCE :   7675 - 7685


Nifty having broken out of the squeeze has rallied smartly and closed above all the AMA's. It is therefore in unchartered territory without any overhead resistances for now.


The key thing to observe here is that the AMA's are hot on Nifty's heels and therefore maintaining momentum is the most critical aspect. If Nifty looses momentum then it will fall below the AMA's. The most crucial remains the 34AMA from where Nifty bounced off the last time. That will remain the crucial AMA below which we can convincingly go short. Aggressive shorts can also be created on break below the 13AMA with an appropriate stop. However, till the no shorts are to indulged in and longs are to be carried with strict stops.

Till then ride the trend.


Trade as per levels.

Happy Trading !!!









 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7493	7510
5 L - AMA	7410	7430
5 AMA	7495	7520
13 AMA	7472	7480
21 AMA	7505	7560
34 AMA	7375	7330
89 AMA	7065	6950
144 AMA	6905	6855

NIFTY BANDS :

SUPPORT :         7350 - 7375
RESISTANCE :   7480 - 7550


Nifty managed to gain momentum post testing the crucial support of 34AMA and is now testing the resistance zone of the 21AMA.

Despite the rallies and the all time closing highs on Nifty, it has been unable to break past the resistance of the 21AMA and it is yet sandwiched between the 21 & 34 AMA band. It is yet playing within the range. Tomorrow is the important weekly closing and it will be interesting to see if Nifty closes strong without getting sold off on pretext of weekend profit booking.

India Vix is at it's support band. Nifty is near the resistance zone of the 21AMA. A correction is overdue. Tomorrow's price pattern should be watched carefully.

The crucial support remains the 34AMA and only below that one should go short convincingly.


Trade as per levels.

Happy Trading !!!









 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7418	7402
5 L - AMA	7345	7310
5 AMA	7415	7408
13 AMA	7450	7480
21 AMA	7463	7501
34 AMA	7342	7295
89 AMA	7040	6930
144 AMA	6890	6842

NIFTY BANDS :

SUPPORT :         7300 - 7350
RESISTANCE :   7450 - 7480


Nifty is yet in the range squeeze and clarity should emerge soon by the end of the week.

A move above the resistance band is needed to gather momentum. Whereas a fall below the 34AMA will be considered as a reversal and an opportunity to go short for the 89 & 144AMA and lower.

The momentum needs to be gathered quickly as the 34AMA is fast closing in on the Nifty and should be close to 7400 in a day or two. Hence, today's low becomes an important pivot for Nifty and sustaining below that might open the doorways towards it's journey downhill.

An important weekly close coming up. Be alert.


Trade as per levels.

Happy Trading !!!















 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7370	7335
5 L - AMA	7255	7215
5 AMA	7357	7320
13 AMA	7447	7495
21 AMA	7430	7447
34 AMA	7317	7270
89 AMA	7020	6910
144 AMA	6875	6830

NIFTY BANDS :

SUPPORT :         7270 - 7320
RESISTANCE :   7430 - 7450


Nifty though showing signs of momentum is failing to convincingly close above the resistances of 13 & 21AMA. It is yet range bound between the crucial 21 & 34AMA.

The coming few days are going to be crucial for the markets and things will become clearer by the end of this week. The resistance and support band are clearly mentioned. Break of either will help Nifty gain momentum. The bias however, remains negative for now.



Trade as per levels.

Happy Trading !!!















 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7311	7278
5 L - AMA	7195	7180
5 AMA	7295	7265
13 AMA	7430	7495
21 AMA	7390	7395
34 AMA	7290	7245
89 AMA	7000	6890
144 AMA	6860	6820

NIFTY BANDS :

SUPPORT :         7250 - 7300
RESISTANCE :   7390 - 7430



Nifty bounced off strongly from the support of 34AMA and is now within striking distance of the critical 7400 level.


Nifty is following the AMA table perfectly. Even with such a huge upmove Nifty has not managed to cross the resistance of the 21AMA. It is yet sandwiched between the 21 & 34AMA which are acting as crucial resistance and support zones respectively.

A break below the 34AMA from here, after such a big rally will be considered very weak and we can see Nifty targeting the 144AMA and lower if it happens.

Tomorrow is a crucial day with the RBI policy hence volatility will be on the rise. It is crucial for Nifty to break through and close above the 7400 level to sustain the momentum.



Trade as per levels.

Happy Trading !!!