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Moving Averages

Banknifty daily analysis for 27/10/23.Banknifty has been trading below the 200 DMA and for consecutive 3 trading session it has closed in red. Today, the close is below 550 points after testing low of 42100. The trend in the market is bearish and more selling upto 41500 level can be seen in the coming days. On the hourly chart, there was a fall in the first half of the session and consoldiated in a parallel channel in the second. A perfect bearish flag and pole formation is there on 15 minutes chart. Support :- 42000-40, 41500 Resistance :- 42800, 43000 Market has given a break down and now there are big targets in the market. If the market breaks down the parallel channel there can be another sell off breaching another round number levels of 42000. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 27/10/23.Nifty has given a nice fall in the first hour of the session and consolidated in 50 points range in the second half. It has closed around the 200 ema on the daily charts forming another bearish candle of 265 points. On the hourly chart, the market has after the 10:15 candle it remained in a range and has been trading below the moving averages. There is a 3.5% fall in just 3 trading session and there are chances of taking a halt as it is trading around the crucial moving average. Support :- 18850, 18650 Resistance :- 18900, 19000 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty monthly expiry trading levels (26/10/23).Banknifty has given a nice fall of 2% in just 2 trading session and closed below the round fingure of 43k. Today, it recover for the imbalance in the markets and gave a fall of 200 points in two candle followed by a 300 coming from a single candle that took out the support levels. On the hourly chart, market has given a good fall and consolidated in the second half which is good for the monthly expiry tomorrow. Now the market trend for a short term is bearish and sell on rise cycle is in. Option buyers can make positions with a setup confirmation. Support :- 42600, 42350 Resistance :- 43090, 42380 Banknifty has respected the levels giving the target of 42800 and taking support from the same. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty50 monthly expiry trading levels (26/10/23).Nifty has continued the fall closing 160 points lower and breaking the major support level of 19250. It has formed another red candle which shows the sellers participation. On the hourly charts, the market consolidated in the initail hour following a 150 point fall instantly below the support levels. Now the market trend is good for a bearish traders and option buyer. There are chance of market being in a short term bear trend. Sell on rise market is there. Option buyers are now going to go green as there will be 50-70 points move in the market for few day. Support :- 19000, 18880 Resistance :- 19250, 19330 Break down of the major support level gave good movement and almost hit our targets. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty daily analysis for 25/10/23.Banknifty has given a nice trending move after forming a bearish flag and pole pattern in the market. It has closed 570 points lower with major fall in a single hour candle of 14:15. Market continued to hold the previous day low and the support zone around it but in the second half the market started trading below the previous swing low of 43600 finally touch 43k level. Even the 200 ema couldn't sustain as a support and market has closed below it which adds up to the bearish sentiments. On the hourly charts, it constantly took resistance from the 20 ema and came for selling. Support :- 43090, 42800 Resistance :- 43420, 43590 The fall was a nice one and there are chance of market following a trend. The close of the market is outside the ongoing consolidation range. Sell on rise market has started as it has closed below the swing low. Trade with a strict SL and enter only with a good R:R ratio. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 25/10/23.Nifty has given a nice fall on the daily charts and took support from the major support range of 19230-250. There is a nice bearish candle on the daily chart and market is trading below the 20 ema. Chances are of market testing the 200 ema. On the hourly charts, there was a consolidation in the first half of the market and in the second half the market fell of more than 130 points. Now there is a bearish trend for a short term. If the market continue to fall and starts trading below the 19200 levels then it will test 19000 and 18850. Support :- 19230, 19000 Resistance :- 19420, 19500 The market can go trending as it is approaching the monthly expiry. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Finnifty weekly expiry on 23/10/23.Finnifty on the weekly charts has been consolidating in a narrow range, taking support around 19550 levels. On the weekly chart, market has closed below the 20 ema. It has closed below the closing range of 19800-19830. There is a nice support around the 19500 level as it has been tested thrice recently. It tried to recover after a gap down opening. It has formed an inside candle on the daily charts while closing between both the moving averages. On the hourly charts, it is forming a bullish pattern of higher high higher low. There is a ascending triangle pattern. Tomorrow is it weekly expiry due to the holiday on tuesday. Support :- 19540, 19450 Resistance :- 19640, 19700, 19850 Markets are still unable to go trending and there are high chances of market following through the movement as the monthly expiries of other indices are approaching. Wait for the price action near the levels before entering the market.
NSE:CNXFINANCE
by Mambotrade
Nifty weekly analysis for 23/10/23Nifty has been taking support around the round figure number of 19500 and has formed a kind of tweezer top on the weekly charts. The market has been volatile and still confused in deciding the trend. It has closed below the 20 ema on the daily charts. There is an inside candle or a halt candle after a gap down opening. Market has been consolidating in a range from 21 september and the month of october has entered the last week of the month. High chance of a break out or break down are there. It can give nice targets with a small Stop loss in a trade. On the hourly chart, there is a bearish moving averages cross over and it remained in the first hour candle after a gap down opening. Still the markets are hitting the stop losses and are not profitable for an intraday option buyers. Sideway cycle of the market will be changed once it starts trading outside the major levels of 19500 to 19850. Once this range is cleared on the either side there will be a trending market. On the smaller time frame, market hasn't moved much while taking resistnace from the 20 ema and closed below both the moving averages (15 minute chart). Support :- 19480-500, 19350 Resistance :- 19580, 19680 Market has been consolidating after a gap up or gap down opening and there will be a movement once it opens flat. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
My analysis on Dr Reddys chart ?From 20 trading sessions the price has been trading in a range of two important Fibonacci levels. Also the short-term and long-term ema's bands are flattened in the same range. So, currently there is no trend. For an uptrend the price has to breakout the level of 5700 and for a downtrend the price has to breakdown the level of 5400. For another confirmation of a trend after breakout or breakdown we have to check for the crossover of ema bands. Hit the like button!! Show some energy!! Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. This material is for education purposes only. Thanks S. Simranjit Singh Virdi
NSE:DRREDDY
by ssvirdi
Nifty Technical Analysis - Using Algos to benefit from fall In a falling market, an investor is benefitted the most by averaging at lower prices. However, emotions can ruin the decision making and the investor can end up losing the opportunity. The algo which i have written (link shared below) works best in a falling market as every candle it checks if the low is below previous low and then buys. So the average buying price keeps going lower and accumulation happens slowly and steadily. OVer the long term, the benefit of low cost can never be over emphasised.
NSE:NIFTY
by MBIPL
Darvas Box formed in a Pharma Stock (Swing setup for 5 to 6%)Cipla, the price is trading below the long-term group of ema's also we have a bearish cross of ema bands. The degree and nature of separation of both bands indicates price consolidation on these levels. So, we use Darvas Box to trade the instrument. Short Trade Setup The breakdown of 1145 will open the lower levels of 1080 which is about 5% Also we have a confirmation from ema bands. Long Trade Setup The breakout of 1200 will open the levels of 1270 which is about 6% But we need a confirmation from ema bands to trade the uptrend. Hit the like button!! Show some energy!! Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. This material is only for educational purposes. Thanks Er. Simranjit Singh Virdi
NSE:CIPLA
by ssvirdi
Banknifty daily analysis for 19/10/23.After many weekly expiry this expiry was the one which was in favour of the option buyers. Banknifty has closed 520 points lower moving the market more then 1% down. It was struggling to sustain above 20 ema and today being the weekly expiry it gave a nice move in the first half and consolidated in the second. On the hourly charts, the market took resistance from 20 ema and came for selling, giving 422 points in single candle. The market has consolidated after a fall in the second half which shows that the market has halted. If the market fall below 43800 levels, it can test 42800 levels soon. On 15 minute chart, it has formed a bearish moving averages cross over and has closed below both the moving averages. Support :- 43870, 43680 Resistance :- 43980, 44210 Wait for the price action near the level before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty weekly analysis for 19/10/23.Today there was a nice fall in the indian markets and nifty has given closed 140 points lower forming a nice bearish candle. It has closed below the 20 ema which is round 19700 level. There are chance of nifty holding the market as there was less fall in the index as compare to banknifty. On the hourly charts, it has closed below both the moving averages and there are high chances of market following the fall. There is also a bearish moving averages cross over, on smaller time frame, which also show there can be a fall in coming days. RSI indicator is showing some bearish divergence on the higher intraday time frame. Watch for option premiums as tomorrow is the weekly expiry. Only one more week will be left in the october month. Support :- 19580, 19480-500 Resistance :- 19720, 19780 Market were in the consolidation phase and after few days it has given a nice trending move. If the global sentiment also align with today's move, there are high chance of market testing 18900 levels soon. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Will Reliance continue its Downtrend ?The price declined about 13% from the high of 2631. Also the degree and nature of separation of ema bands indicates a downtrend. If the price is rejected from the level of 2362 then it will continue its downtrend. And for an uptrend the price has to break the resistance zone with momentum. It's important to consider, the long-term band is in the resistance zone. So wait for the price to clear its trend. Currently we are at make or break levels. Hit the like button!! Show some energy!! Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. This material is only for educational purposes. Thanks Er. Simranjit Singh Virdi
NSE:RELIANCE
by ssvirdi
2
Get ready for a move of 8%After making a low of 168 the price rebounds with a good momentum. Now the price has entered the resistance zone. The breakout of 178 will open the levels of 190. GMMA Indicator for Trend Signs: 1. The degree and nature of separation in the long-term group of EMAs indicates a pause in the long term trend. 2. The degree and nature of separation in the long-term group of EMAs indicates a trend reversal. Hit the like button!! Show some energy!! Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. Thanks Er. Simranjit Singh Virdi
NSE:ASHOKLEY
by ssvirdi