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Moving Averages

Nifty weekly analysis for 14/08/23.Nifty is taking a retracement and on the weekly charts have formed an inside candle. The market took a retest to 50% fibonacci levels and recovered. Trend is still bullish as the major trend is in the upward direction and this might be just a retracement. Though the market is stuck in a small range and there are chance of a breakout in the upcoming week. The market has closed below the 20 ema on daily charts, which signifies some bearish trend in the short term. Directional market is not there as it is behaving in a volatile and sideways mode. On the hourly charts, there is a formation on lower low lower high and market is following a bearish trend. Nifty has closed below both the moving averages and is now standing around 19400 levels. In the first trading hour market took resistance from 20 ema and closed even below the 200 ema, traded around it and finally formed an evening star taking resistance from the levels. On 15 minutes time frame, the closed is below both the moving averages and the market still looks bearish. Support :- 19300, 19185 Resistance :- 19500, 19580 The market has closed just below the support level and another support is 100 points lower. If market starts trading below previous day's low, bearish move will be there. Gap up and gap down opening will take the opportunity away as it will be stuck in a range. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty daily analysis for 11/08/23.Banknifty from the first hour was looking weak and whole day traded lower than nifty. It has given a red candle and closed 340 points lower forming a doji. Still banknifty respected the previous swing but has started closing below previous day closing range. This week till now has given more of losses as there is no clear trend in the market. In the second half, traders were looking for a expiry trade but it kept on hitting Stop losses and formed doji after doji on hourly charts. The market has closed below both the moving averages on hourly charts and took rejection from 200 ema previous. Today it tried too sustain the 20 ema but 10:15 AM candle gave a break out of the levels and single candle closed 370 points lower. Banknifty is looking negative and nifty is otherwise. It would be good to just avoid a day or two for trading as there is no clarity of where the market will be heading. On 15 minute charts, there was a up and down candle one after the other and closing hour was horrible to trade as option premium due to time decay couldn't not give expected targets. It constantly struggled to cross the 20 ema and has closed below both the moving averages. Support :- 44500, 44310 Resistance :- 44710, 44900 Banknifty constantly tested 44600 levels and closed near 44540 levels. If there is a gap up opening, enter bullish trade only once 44700 levels are crossed. Market has created resistance and supports nearby and can react to any of the levels. Take small profits out of the market. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 11/08/23.Market are very volatile and is killing profits for option buyer. Today's market was good in the first half as it gave a nice bearish movement but got jittery in the second half. Being expiry, no trending market was seen even in the closing hour and nifty closed 90 points lower forming another lower wick rejection doji. On the daily charts, market is seriously taking support from the 20 ema and today after touching a low of 19495 it reversed immediately closing around the moving average. The 10:15 AM candle was a good candle and a nice bearish move was seen, this candle lost 83 points and market traded in the range of this candle whole day. On the hourly chart, 20 ema was creating confusion as it traded around it and closed just below the moving average. Support :- 19480-500, 19420 Resistance :- 19550, 19600-30 Support and resistances are nearby as market is volatile and can reverse from any of the levels. Scalp trades and short selling is good in this kind of market as there no clear trend till now. Market is closing in a small range. Clearly scenario will be there once it starts closing outside the range. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty Banknifty . ( Not for "Amature traders" ) Enter after " Breakout and Retracement ". . . For " long " entry: 44530 / 45120 target: 45030 - 45250 - 45760 stoploss: 44500 / 44980 . . For " Short" entry: 44480 target: 44250, 44030 stoploss: 44580 . Enter only if market Breaks "Yellow box" mentioned. . Wait for proper reversal and conformation. . Don't make complicated trade set-up.📈📉 Keep it " Simple, Focus on Consistency " 💹. Refer our old ideas for accuracy rate🧑‍💻. Valuable comments are welcomed-✌️ . Refer old ideas attached below.
NSE:BANKNIFTY
by TheNuraTrading
Banknifty daily analysis for 10/08/23.Banknifty tested lower levels but has closed in the same range as the previous 2 days. On the hourly charts, it has again closed between both the moving averages. It gained 200 points in the last hour signifying some bullish movement in coming days. Both buyer and seller took charge today. Seller where in control in the first half of the session but buyer pushed market back giving closed only 80 points lower. Dragon fly doji on the daily charts and closed near 44900 levels is something buyer where looking for. An inside candle has been formed on 4 hours charts. Watch for market to cross and start trading above today's high. Market gave an unpredictable move in the second half. Support :- 44580, 44310 Resistance :- 45090, 45280, 45500 The market has created a huge range in which it traded today. Avoid trading between today range. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 10/08/23.A clear bullish engulfing candle and a dragon fly doji on the daily charts shows some bullishness in the indian markets. Nifty has given a U shape recovery today, after crossing 19530 levels market looked good for selling but it reversed after 100 points fall from the day high. Today's market was totally unpredictable as it started consolidating after the fall and slowly moved in the upper direction. On the hourly charts, market after breaching 20 ema almost touched 200 ema and reversed. The last hour candle shows some positive signs and chance are there that market fills the gap on the upper side. The bearish moving averages cross over, on 15 minutes chart, gave some movement on the downside but couldn't sustain the trend and it reversed quickly. Support :- 19470, 19400 Resistance :- 19680, 19730, 19850 Seller were loaded in the morning but buyer tookover and closed the market 60 points higher. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty ( Mostly Bullish )Banknifty . Trying to form ( H&S ). Enter after " Breakout and Retracement ". . . For " long " entry: 44580 / 45120 target: 45250 - 45760 stoploss: 44900 / 45030 . . For " Short" entry: 44550 target: 44250, 44030 stoploss: 44580 . Enter only if market Breaks "Yellow box" mentioned. . Wait for proper reversal and conformation. . Don't make complicated trade set-up.📈📉 Keep it " Simple, Focus on Consistency "💹 . Refer our old ideas for accuracy rate🧑‍💻. Valuable comments are welcomed-✌️ . refer old ideas attached below
NSE:BANKNIFTY
by TheNuraTrading
2
Banknifty daily analysis for 09/08/23.Banknifty has been trading between 38.2% to 50% fibonacci level and remained volatile whole day. The market is taking serious resistance from 45k level and today also it tried to cross the level and reversed after hitting the resistance zone of 45100 level. On the hourly chart, banknifty remained between both the moving averages and gave dji after doji. Trend is still not decided for the short term and the long term too. This can be a retracement of the major trend or it can be a start of a short term bear market. Sideway market is killing option buyer as both option are losing theta value. On 15 minutes chart, 20 ema gave a nice support to the market and it has been tested constantly. If the market starts trading below it and breached the support levels of 44800, enter bearish trades as there are chance of hitting big targets. Support :-44800, 44625 Resistance :- 45100, 45500 44800-45100 range is a no trading zone as the market is volatile in this range and no clear trend is there between the levels. Option buyers avoid trading between this range but option seller can create short strangle. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 09/08/23.Market remained in the same range as yesterday and killed option buyer. Nifty for 2 days have been range bound. Today range was 19630-530 and in the second half of the session market remain silent. On the hourly charts, nifty took support from 20 ema and closed above both the moving averages. After a gap up opening market came for selling and reversed after hitting the support zone around 19500 levels. Market has been consolidating for 2 days and time is there for a big move either side. On 15 minute time frame, the market traded around the moving averages and has closed near the levels. Support :- 19535, 19420 Resistance :- 19600, 19720 Nifty struggled to cross 19600 levels and 50% fibonacci levels. It has also hit 19500 levels many time. Break out/down can give good target. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
FinNifty weekly expiry on 08/08/23.Finnifty on the daily charts has formed a dojo after a gap up opening and has closed below the 20 ema. DJI has given a bullish candle closing 400 points higher which gives a bullish move prediction in Indian markets too. On the hourly charts market has consolidated in a range of 100 points, closing between both the moving averages. Consolidation in done and breakout can give nice target. There is a bullish diverge in RSI indicator too. Even on 15 minute charts, it has closed between both the moving averages. Support :- 19970, 19870 Resistance :- 20050-90, 20210 The market has consolidated and bullish trades can be initiated once 20090 levels are crossed. Watch option premium as there will be time decay due to weekly expiry in FinNifty. Wait for the price action near the levels before entering the markets.
NSE:CNXFINANCE
by Mambotrade
Banknifty daily analysis for 08/08/23.Banknifty today was too volatile and closed almost flat to negative losing 42 points. It has been trading below the 20 ema and today also it closed below the levels while nifty has closed above its 20 ema. Both the indices were range bound and traded in opposite direction. Even after a gap up opening banknifty couldn't keep the gain. On the hourly charts, dojis were formed and it tried to cross 45k levels but took rejection from the levels and closed around 44800 levels. Market traded around the 20 ema and has closed below both the movinga averages. It remained in a 250 points range which is good as the breakout will be good after consolidation. Support :-44800, 44625 Resistance :- 45000, 45100, 45500 Upper Long wick rejection can be in hourly charts and a constant rejection from 20 ema seems that market can test lows. Scalp trades can be done in this market as intraday trades can fetch loses due to the volatility market is creating. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 08/08/23.Nifty has formed a doji and trade whole day in a range of 100 points. The market is following a rising wedge channel and today has given closing above 20 ema. On the hourly chart, it has closed above both the moving averages. There seems no opportunity for option buyer. Market opened gap up and remained volatile. Fight between buyer and seller couldn't take market anywhere and it closed only 80 points higher. On 15 minute chart, nifty took support from 20 ema and in the second half after crossing 200 ema took support from the level. Both the moving averages are close enough. Support :- 19535, 19420 Resistance :- 19600, 19720 Nifty struggled to cross 19600 levels today and closed below it. The market is giving gap up opening and not giving much opportunity to option buyer on intraday basis. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Evening star in SBIN, can it take stock lower?SBIN has given a fall of 7% in this week after forming a double top pattern. An evening star pattern has been formed on the weekly time frame and stock has closed below the 20 ema. After trading around the ATH stock has given a nice fall and in the last trading session too it has given 3% fall. Volume indicator also confirms the pattern as the volume of the red candle is higher than the doji candle formed previously. A short trade can be initiated in the stock once it starts trading below today's week low. The stock can test 550 levels so as there are high chances of froming lower lows lower highs. The stock may take a halt candle on the daily charts, as it has formed 4 red candle and is trading between both the moving averages. If the stock retest higher levels before giving another bearish leg, sell positions can be created once there is a negative candle formation near golden ratio of fibonacci series. Entry :- Below 571, On bearish candle around 600 levels. Targets :-555, 505 Stop losses should be created on 1:2 or 1:3 basis. Positional trades can be initiated in the stock as it may take time to test the levels. Next expiry future or options can be sold as August expiry option will take profit due to time decay. Wait for the price action near the levels before entering the market.
NSE:SBINShort
by Mambotrade
Banknifty weekly analysis for 07/08/23.Banknifty in the last week has traded below the previous swing low and is taking resistance from 50% fibonacci levels. It has closed 590 points lower on the weekly charts. The market gave a nice fall in 2 trading session and in the last trading session tried to sustain above 45k level but couldn't. The market on the daily charts, is giving doji after doji and has closed around 44900 levels. Banknifty tried to sustain near the new high but seller overtook the buyer and brought market to test 44300 levels losing 1100 point in just two tradin session. On the daily chart, market had started trading below the 20 ema and has closed below it too. It has started forming lower low lower high formation and chance of testing lower levels is high. Market cycle is of sell on rise for the short term. Banknifty formed a nice bearish flag patter before and gave nice targets. On the hourly charts, market has formed a bearish moving averages cross over and has closed below both the moving averages. Support :- 44620, 44310 Resistance :- 45080, 45500 The lower low lower high formation can be followed by the market in the coming week. Watch to sell the market on high with confirmation. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade