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Candlestick Analysis

Nifty intraday levels for monthly expiry 29/02/24.Nifty has formed a M pattern on the hourly charts and closed below 22k levels. It has closed around the 20 ema on the daily charts. If there is a gap down opening, another selling can be seen in the market. In case there is a gap up to flat opening, wait for the price to breach below the support zone. Major support levels :- 21920, 21830 Tomorrow is the monthly expiry and today market gave a good selling market. There are chance of giving a good movement. Another follow through can be seen in the market. So just watch the market takes out today's low. Major resistance levels :- 22100, 22210 Just wait for a pattern formation around the zone and trade only the setup as option premium will give a decay. If VIX is high, option premium will be high. Option buyer need to take a entry when there is momentum in the market. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty intraday levels for monthly expiry 29/02/24.Banknifty has given a nice bearish move today and closed around the day's low. The market was trading in a range for last two trading session and gave a good momentum after a break down. There is a bearish sentiment as the market has closed below both the moving averages on the hourly charts. Tomorrow is monthly expiry for the indices and if there is another bearish move tomorrow, a nice trending move can be seen. Major resistance levels :- 46270, 46730 A volatile market was there in the second half of the trading session. If there is a gap up or flat opening, wait for the break down and enter the bearish move only after the support zone is breached. Major support levels :- 45910, 45700 Reversal can be seen near 45700 level as there is a golden fibonacci levels. Banknifty has closed below the 20 ema on the daily charts. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
MFSL - Bullish Consolidation with VolumesNSE: MFSL is closing with a bullish consolidation candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 8% to 12% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:MFSLLong
by BrahmaBull31
Banknifty intraday levels for weekly expiry 21/02/24.Finally, Banknifty is trading above 47k levels and a bullish trend may start in the index. After closing in a range and forming doji candles, there is a bullish marubozu candle on the daily close. The bullish move can sustain as it consolidate before crossing the levels. Tomorrow, if there is a gap up opening around 47200-300, there are high chance of market touching 47500 levels. In case of a gap down, there are chance of another buying happening in 46800-950 zone. Major support level :- 46980, 46720. Resistance levels are far and another bullish candle can be seen in daily charts. Resistance levels :- 47200, 47540. Watch the market opening and trade the setup. Let market form a price action and enter only bullish trade as bearish trades can hit the SL.
NSE:BANKNIFTYLong
by Mambotrade
10
Nifty intraday levels for weekly expiry 22/02/24.Nifty has given nice bearish engulfing candle after a consolidation on the higher levels. A good sell off in the market is showing some profit booking in the market and potential levels may be tested on the expiry. It has close 22055 levels. If there is a gap up opening, there will be chance of a halt candle. In case of a flat to gap down opening, there will be another red candle on the daily charts. Short below 22k levels can be initiated with Major support zone around 21920, 21830. There is a high probability of a gap filling trade. Resistance levels :- 22090, 22240 Tomorrow is weekly expiry of the index, watch for option premiums chart while trading. Wait for the price action near the levels before entering the market
NSE:NIFTY
by Mambotrade
4
JAMNAAUTO - Bullish Swing Reversal with VolumesNSE: JAMNAAUTO is closing with a bullish swing reversal candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 15% to 21% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:JAMNAAUTOLong
by BrahmaBull31
BANKNIFTY heading towards important SUPPORT now! As we can see despite the strength in the first half, BANKNIFTY failed to sustain at higher levels and fell unidirectionally or we can say that it remained more like sideways to negative as analysed in our previous analysis. NOW that BANKNIFTY has shown substantial downside in last few days, we can see it is heading towards important SUPPORT 44100 levels and any good rejection around this level could a great entry for positional call side so plan your trades accordingly.
NSE:BANKNIFTY
by Wealthcam
FinNifty intraday levels for monthly expiry 27/02/24.FinNifty has remained completely sideways today and is trading in a consolidation range. On the hourly charts, the market has closed between both the moving averages and might touch the 200 EMA. In case of a gap down opening, there is probability of market going bearish and testing the lower levels. Major support level :- 20600, 20480 If there is a slight gap up or flat opening, wait for the market crosses and sustain above the trend line, upper levels can be tested. Resistance levels :- 20760, 20830 The daily candle is showing some negativity as there is a hanging man candle near the support level. Tomorrow is the monthly expiry of the index, watch for the option premium and time decay. If there is a break out/down in the second half of the trading session, a trending move can be seen. Wait for the price action near the levels before entering the market.
NSE:CNXFINANCE
by Mambotrade
ATGL - Bullish Swing Reversal with volumesNSE: ATGL is closing with a bullish swing reversal candle supported with volumes. Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days. The stock has been moving along the horizontal support for the past few days which is indicating demand. One can look for a 16% to 27% gain on deployed capital in this swing trade. The view is to be discarded in the event of the stock breaking previous swing low. #NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
NSE:ATGLLong
by BrahmaBull31
1