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Moving Averages

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
Banknifty weekly expiry analysis for 18/10/23.Banknifty on the daily time frame has given a red candle after a gap up opening and closing 180 points higher. It opened above the 20 ema but couldn't sustain above the level and closed below the level and constantly faced resistance from 44500 level. On the hourly charts, banknifty traded between both the moving averages, taking resistance from the 200 ema and support from 20 ema. Today, there was a nice sell in the market in the second half after a consolidation forming a bearish flag and pole pattern. Tomorrow is weekly expiry and last expiry has also been in the consolidation phase. If there is a trend move it can be captured by booking 80% on the target and trailing SL for the remaining 20%. On 15 minute charts, the market closed around both the moving averages. The market took support from the 200 ema and respected the 44350 level. Support :- 44330, 44210 Resistance :- 44450, 44550, 44730 Wait for the price action near the level before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 18/10/23.Nifty is still unable to trade above the resistance levels of 19850. After a gap up opening the market came for selling and consolidated around the level. There was a sell off in the second half, taking support around the support level as well as the 20 ema on the hourly charts. Market gave a nice move but there was no follow through in the markets. The markets are holding on the higher levels which signifies there will be a break out trade in the coming days. Of the major trend the market has crossed and sustain above the 50% fibonacci level but it is unable to test 61.8% levels. On the 15 minute charts, the market tried to sustain the higher levels and in the second half it started trading below the 20 ema. Support :- 19780, 19730 Resistance :- 19840, 19900 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Finnifty weekly expiry for 17/10/23.Finnifty has been consolidating in a range for few days. It has formed a doji candle on the daily time and closed below the 20 ema. Indian markets have been consolidating in a range for few days. Break out or break down can give good targets. On the hourly charts, the market has given a bearish moving averages cross over. It took resistance from the 20 ema and closed below both the moving averages. The market can be a trending one this week as there is good consolidation going on in the market. Watch for the break out or break down in the market and trade with a Stop loss. On 15 minute time frame, the market has closed around both the moving averages. There is a positive sentiment on the smaller time frame. If the market starts trading above 19850, it can test 19950-20000 levels. Support :- 19740, 19680 Resistance :- 19860, 19960 In the second half the market has consolidated. Watch for a break out as tomorrow is a weekly expiry and market has given good consolidation. Wait for the price action near the levels before entering the market.
NSE:CNXFINANCE
by Mambotrade
Banknifty daily analysis for 17/10/23.Banknifty is still trading below the 20 ema and has formed another doji candle at the day close. It has given a nice move both side. In the opening it tested the lower levels and also tested the higher levels. On the hourly charts, the market tested the 20 ema, facing resistance from the levels and closed almost flat. Ongoing market is for the option seller as there is time decay whole in option premiums. On 15 minutes charts, the market has closed below both the moving averages. Support :- 44190, 44060, 43860 Resistance :- 44560, 44740 Banknifty is volatile and there are chances of a trending move in the market. There is a good consolidation going on in the market a powerful break out or break down is about to be seen. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 17/10/23.Nifty on the daily charts has formed an inside candle and closed flat forming a doji candle. It consolidated in a narrow range of 60 points after the first hour candle. There were no movement in the index. On the hourly charts, nifty traded around the 20 ema and closed between both the moving averages. Markets are not giving any option buying opportunity in the market. It is consolidating and moving in a sideways trend after gap up or gap down opening. The closing range of the market is getting smaller and a trending move can be seen in the coming days. Support :- 19720, 19670 Resistance :- 19780, 19840 Nifty has not given a significant move in recent which is a good thing for a powerful break out or break down. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade