NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7740	7738
5 L - AMA	7521	7520
5 AMA	7578	7570
13 AMA	7678	7680
21 AMA	7699	7679
34 AMA	7793	7847
89 AMA	7625	7611
144 AMA	7327	7240

NIFTY BANDS :

SUPPORT :         7520 - 7550
RESISTANCE :    7620 - 7625


Nifty swung wildly in a 250 point range from 7480 to 7730 and finally closed the day lower in the RED !!

We mentioned very clearly yesterday that there will be wild and volatile 2 way moves but where Nifty closes is more important and if it wants to continue with the bull case then it needs to close above the 89AMA which was our line in the sand.

However, with today's close in the red Nifty has closed below the 89AMA and also recorded it's highest turnover ever. These are not good signs and it clearly indicates that the tables have turned and the market has now gone into a sell on rise mode. Unless, Nifty does something dramatic and breaks past the 89AMA convincingly we will continue to have a sell on rise stance.

As one can see from the AMA table, there is mild support now near the 7520 zone. Therefore, one may expect Nifty to bounce from these levels. But there is strong overhead resistance right from 7620 till 7680. So any bounce would present a shorting opportunity. Keep in mind that the 89AMA is in rising mode and will rise with each passing session. Sell as close as possible to the resistance band to minimise risk.

On an optimistic note one can still observe Nifty's behaviour and the nature of bounce tomorrow. If Nifty is able to break and sustain above the 89AMA then bull hopes might still be salvaged. Important weekly close tomorrow coupled with Infy results.

Be Alert.


Trade as per levels.

Happy Trading !!!










 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7755	7765
5 L - AMA	7610	7613
5 AMA	7652	7663
13 AMA	7698	7687
21 AMA	7717	7699
34 AMA	7800	7855
89 AMA	7610	7590
144 AMA	7315	7230

NIFTY BANDS :

SUPPORT :         7590 - 7610
RESISTANCE :   7685 - 7700


We mentioned yesterday that the 89AMA remains the most crucial support band for Nifty as throughout this rally Nifty has taken support off it and bounced.

With today's close the 89AMA has shifted marginally higher to the 7590 - 7610 band. Therefore, what Nifty does tomorrow will be the decider. If Nifty is unable to close above 7610 then the bull party and this rally may well be over. But if Nifty does bounce back and manages to close above 7610 then the bull case hopes will stay alive and will come into definite contention on breaking above the 13AMA.

It's a very precarious situation and tomorrow can be anybody's game. Who takes it remains to be seen. There will be 2 ways volatile moves in the day. Where the close comes is important. 7610 will remain the line in the sand.



Trade as per levels.

Happy Trading !!!

















 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7845	7855
5 L - AMA	7697	7715
5 AMA	7735	7750
13 AMA	7708	7675
21 AMA	7732	7715
34 AMA	7806	7860
89 AMA	7595	7570
144 AMA	7302	7217

NIFTY BANDS :

SUPPORT :          7570 - 7595
RESISTANCE :     7675 - 7700


What a Flush Out !!!

Markets post the rail budget exhibited volatility and ended the day with a massive cut. This extreme cut came about after break of our mentioned support band at 7735 - 7745. We had mentioned quite clearly in our previous post that we will exit all longs post break of the support band. This is the sheer brilliance of the AMA table. It enabled us to exit at the most opportune moment and book our profits at the right time giving us a great advantage.

Now from the present structure of the AMA table, it is quite clear that Nifty's resistance band has shifted to the 7675 - 7700 zone and there is a critical support zone present in the 7570 - 7595 band. Nifty's low after the massive shakeout was 7595.90 !!! Bang at the support of the 89AMA. Remember, that in this rally Nifty has always bounced off the support of the 89AMA. Thus, a break below this support zone of 7570 - 7595 will be extremely negative and the trend will change to sell on rises. However, if this support band holds then Nifty can once more resume it's uptrend.

Therefore, the ideal thing to do would be to go long with a stop at 7570 and go short if this support breaks.

What the budget has in store we don't know but we can definitely follow price as it will incorporate the outcome in it.



Trade as per levels.

Happy Trading !!!













 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7835	7858
5 L - AMA	7778	7799
5 AMA	7828	7850
13 AMA	7711	7660
21 AMA	7745	7735
34 AMA	7805	7860
89 AMA	7577	7545
144 AMA	7290	7205

NIFTY BANDS :

SUPPORT :         7735 - 7745
RESISTANCE :   7830 - 7860


Nifty has some good event list going ahead in the form of Rail Budget, Budget, IIP Data, Infy Results etc. Thus, it is definitely going to be an eventful week with an increased bout of volatility.


As one can notice from the AMA table there is crucial support in the 7735 - 7745 zone where the 21AMA is sitting tight. Below that, we also have the 13AMA which is providing good support at 7710. However, there is good overhead resistance for Nifty in the 7800 - 7850 zone. All the short term 5AMA's and the crucial 34AMA are providing resistance in this band.

So it is a tight and narrow range for Nifty and a breakout on either side will give markets further direction. With an event lined week a move on either side will definitely come and we should then ride the breakout/ breakdown.

For now, we are neutral to mildly positive as long as the support bands hold up. Below 7730, we will exit longs.


Trade as per levels.

Happy Trading !!! 














 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7772	7785
5 L - AMA	7727	7735
5 AMA	7757	7777
13 AMA	7642	7592
21 AMA	7722	7735
34 AMA	7776	7840
89 AMA	7530	7490
144 AMA	7252	7172

NIFTY BANDS :

SUPPORT :          7645 - 7700
RESISTANCE :    7760 - 7780


Nifty paused after hitting the 7750+ level in today's session.

As one can clearly see in the AMA table, a host of numbers have cropped up in the 7760 - 7780 zone. Hence, this zone remains a clear hurdle in the coming days and do not expect the market to clear this resistance band with ease. Support comes in at the upper band of the 13AMA which lies near 7650.

Nifty may do some time consolidation without much price damage and then resume it's rally if it wants to continue with it's uptrend. Any break below the 13AMA will be considered weak and will force us to review our bullish stance.



Trade as per levels

Happy Trading !!!














 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7700	7692
5 L - AMA	7655	7645
5 AMA	7701	7695
13 AMA	7625	7585
21 AMA	7710	7730
34 AMA	7765	7835
89 AMA	7510	7465
144 AMA	7235	7155

NIFTY BANDS :

SUPPORT :         7655 - 7700
RESISTANCE :   7730 - 7770


Nifty continued with it's strong momentum and having opened gap up gave nearly a 100 point rally in today's session. ALL TIME HIGHS.

Our buy at lower levels worked very well and we are sitting in very good profits. It would be prudent to book partial profits near the resistance zone and not be complacent. The rest should be trailed with a stop at the upper band of the 13AMA. One may also use the lower band of the 21AMA as an aggressive stop on closing basis.

The rally may well continue past our resistance zone and go to knock at the upper band of the 34AMA which is placed above 7800. So there might be more steam left in this upmove.

Ride the trend with strict stops.



Trade as per levels.

Happy Trading !!!
















 

NIFTY AMA

NIFTY AMA	RANGE
5 H – AMA	7625	7620
5 L - AMA	7565	7550
5 AMA	7602	7585
13 AMA	7585	7560
21 AMA	7690	7720
34 AMA	7750	7825
89 AMA	7485	7435
144 AMA	7220	7140

NIFTY BANDS :

SUPPORT :         7585 - 7600
RESISTANCE :   7720 - 7750


In our last post we mentioned 7565 as the crucial breakout point for Nifty & it broke through the same on Monday itself posting a 100+ rally and followed up with another positive close today. So now one knows how brilliantly this AMA table works where we dint need to wait for break of 7620 level, the so called resistance point by many technical analysts. A break above 7565 gave us an early hint and a distinct advantage.

We had been holding mild longs since 7460 and also advised to go long on breakout above 7565. Now Nifty has crucial resistance in the 7720 - 7750 zone. One may part book profits there and observe the price action. Not breaking above this resistance zone will be considered weak and invite some selling pressure. However, crossing this hurdle will open the path towards the upper band of the 34AMA at 7825.

Till then ride the trend and enjoy the longs.



Trade as per levels.

Happy Trading !!!