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Moving Averages

Banknifty daily analysis for 27/07/23 (monthly expiry).Banknifty has finally traded and even closed above the 46k levels. After a gap up opening, it fill the gap and in the second half crossed the 46k levels. It has closed near the resistance zone of 46100 levels. Banknifty consolidated and gave a break out above 45950 levels. On the hourly charts, it has closed above the 20 ema and it respected the levels after a gap up opening. Tomorrow is monthly expiry and there can a trending market. On 15 minutes charts, the market totally respected the 20 ema and took support from the level, finally closing above it. Support :- 45980, 45830 Resistance :- 46080, 46250 Banknifty has retest the 38.2% levels and today has traded in a parallel channel. The breakout/breakdown can give nice target on the monthly expiry as there has been consolidation. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty analysis for 27/07/23 (monthly expiry).Nifty traded inside the first hour candle and closed 100 points higher forming a confusion candle charts. The market are consolidating and creating confusion. On the hourly charts, started trading above the 20 ema after the gap up and took support from the levels. Nifty traded in 70 points range after the first hour candle. Initially, both the indices were travelling in different direction and nifty leading but finally banknifty also followed the index and closed above 46k levels. On 15 minutes chart, there was a constant rejection from 19825 levels and closed below the 20 ema after the fall of the final hour. Support :- 19760, 19700, 19640 Resistance :- 19825, 91870 ,19990 Nifty has consolidated and can give nice trend on the monthly expiry. Watch for the movement as option premium can give nice movement too. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty daily analysis for 26/07/23.Banknifty after a gap up opening came of selling initially and closed 80 points lower on the daily close. There is a bearish engulfing candle and market is taking support from 45600 levels. On the hourly chart, market remained in a 200 points range in the second half of the trading session. The market has formed resistances on the highs and are near by the trading levels. On 15 minutes time frame, market traded between both the moving averages and took support from the 200 ema and formed a V shape pattern. Support :- 45640, 45360 Resistance :- 45920, 46070 The market today remained in a sideway mode and has closed almost flat. Chance of a nice trending market can be seen in the coming days. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 26/07/23.Nifty has traded inside a 100 points range and closed almost flat. A red candle has been formed after a gap up opening. On the hourly charts, market traded below the 20 ema. Today it remained in a range and made difficult for the option buyers. A constant rejection from 19700 level was faced by the buyer and market was unable to cross and sustain above it. On 15 minutes charts, both the moving averages are close enough and a bearish moving averages cross over has been formed. RSI divergence is there showing some weakness in strength on the top. Support :- 19635, 19560 Resistance :- 19700, 19760 The market has formed resistances near by and chance of retesting lower levels are high as per the RSI divergence. Wait for the price action near the levels before entering the markets.
NSE:NIFTY
by Mambotrade
Nifty daily analysis for 25/07/23.Nifty on the daily charts have formed a red candle losing 72 points. The market has closed below 19700 and on the hourly charts, after taking multiple rejection from 20 ema, it closed below the levels. It has been trading in a parallel falling channel. It also gave a fake out but couldn't sustain above it. On the hourly charts, evening star pattern formation during the closing hour shows some negativity. Another flag and pole pattern formation can be there and after a consolidation phase, there are chances of a break out or break down. On 15 minute time frame, market has closed between both the moving averages. Support :- 19640, 19560 Resistance :- 19740-60, 19850 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
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Banknifty daily analysis for 25/07/23.Banknifty has been trading in a parallel channel and today in the second half of the session has consolidated forming a red candle. On the hourly charts, it traded around the 20 ema and closed near to the levels. The market has been consolidating and forming a falling wedge pattern. Break out can good trade points in coming days. Market traded below the previous day low but didn't travelled to test the lows and took support from the trend line. On 15 minutes charts, market has closed below the 20 ema and has taken constant rejection from the levels. Support :- 45850, 45650 Resistance :- 46080, 46260 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Banknifty weekly analysis for 24/07/23Banknifty has been travelling with a good moment and has formed a nice green candle gaining 2.8% (1255 points) on the weekly close. Nifty didn't support the up move on friday due to the IT sector fall and banknifty finally closed only 100 points lower. On there daily charts, a doji candle has been formed. Either it is a halt candle or a reversal candle, no clarity is there. The market seems to have some potential on the upper side and can go up to 48-49k levels in the rally. The market traded in 300 points range after forming a new high in the first hour of the session. Consolidation in a range is going on and RSI is forming some bearish divergence on hourly charts. There is a possibility of market retesting some lows and getting ready for another bullish leg. Banknifty has given a strong closing than nifty and is still trading above the 20 EMA on the hourly charts. Watch for a break out of the levels for initiating bullish trades. Support :- 45950, 45630, 45450 Resistance :- 46260, 46365 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty weekly analysis for 24/07/23.Nifty after the IT sector result was dragged 230 points lower losing 1.17% and forming a long upper wick on the weekly charts. On the daily fibonacci retracement, market took support around 38.2% levels and has respected it quite well. The market are in a bullish move and the retracement is also necesary for another leg. The bullish trend is technically correct and higher high higher low forming is also going on. RSI indicator, on the hourly charts, show some weakness in the strenght and there are chances of market retesting 50 to 61.8% fib levels as there is a bearish divergence in the indicator. The market has closed below 20 EMA, on the hourly charts, and traded whole day below it. Support :- 19730, 19635, 19570 Resistance :- 19840, 19993(ATH) A good bull market is going on. This is the 4th leg of the up move and chance are that the market can go for a sideways movemove or a short term bear phase before any up move. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty daily analysis for 21/07/23.A 500 points rally took banknifty past 46k levels and market has closed above it. During the morning hour market consolidated and in the second half gave a rally of more than 400 points touching 46200 levels. On the hourly charts, the breakout of the previous day high gave a 350 points rally during the last hours. A sideway to bullish market will be there. Buy on dips is going on the market. Support :- 45850, 45370 Resistance :- 46250, 46885(fibonacci level) 200-300 points rally is there as per the flag and pole pattern break out. Watch the market closely before entering any bearish trade. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 21/07/23.Nifty almost touched the 20k levels today and has closed near the high. Market are running higher and Bulls are taking on the sellers making it difficult for the option sellers today. On the hourly charts, the first candle was in red and after that whole day the market rallied upside. The breakout gave a good target and option premium gained more than 200% gains. Even during the last hour market kept on going higher without taking a halt and tried to touch the round figure levels. Support :- 19850, 19730 Resistance :- 20000 The market are in the bull market and no real resistance is there. Fibonacci retracement tool can be considered to find resistance levels. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Nifty weekly expiry analysis 20/07/23.Nifty is forming new highs daily and today it has closed near the high as well. It has formed a dragon fly doji and is supported by other index too. There are good chances of hitting 20k levels in july series. On the hourly charts, it is trading in a rising parallel channel pattern. Tomorrow is weekly expiry and breakout/breakdown can give good targets. The markets are in the bull mode and even the global markets are supporting it. On 15 minutes chart, it is respecting the 20 ema. After breaking the level it recovered took support from it again and during the last hour gave a nice upside movement. Support :- 19760, 19650 Resistance :- 19875(fib level) Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty daily analysis for 20/07/23.An Inside candle has been formed on the daily chart and a dragon fly doji has been formed. Market closed gaining 260 points. There was a gap up and a profit booking took market down. Supports are nearby and the market is still in the bullish move. On the hourly chart, a V shape recovery was there. And it is trading above the moving averages. Today option buyer might have red PnL. Support :- 45470, 45350 Resistance :- 45690, 45850 Tomorrow is weekly expiry and if market gives a breakout around 12:30, its likely to carry on. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Relaxo : RELAX by going Long on it!!!*Observation in Weekly TF* RSI : Above 60 (In Momentum) MACD : Above Zero line and uptick BB: Upside Challenged EMA 50 : Price is roaming around EMA 50 *Observation in Daily TF* RSI : Above 60 (In Momentum). MACD : Toggled near Zero Line and crossover done. BB: Bollinger Upside challenged after getting squezzed. EMA 50 : Price > Closed above EMA 50. Points to be considered for BULL RUN 1.) Flag and Pole Breakout in Daily TF with heavy volume breakout. 2.) Can be Golden crossover of EMA 50 & EMA 200. Internal Wave 3 of Major Impluse Wave 5 has started. One can go long on Re-test point and as per own risk -reward ratio. Target : 1035 Entry : Around 920-930 SL : Strict SL 893
NSE:RELAXOLong
by njainender
Nifty heading for 20k. Daily analysis for 18/07/23Nifty has given a break out of the parallel channel and is ready to touch 20k levels soon. Bullish trades for positional trade in august series can be carried now. Index from the first hour was in the bullish move and carried the momentum through out the day and gave a nice move in the closing hour of the market. Nifty has given a 146 points gain in a day and a flag and pole pattern break out can give nice rally.' Support :- 19660, 17520 Resistance :- 19875(fib level) DJI is also trading around the resistance levels and can give a break out today. The break out of the resistance levels can help Indian market touch new highs. Watch the global markets in the morning as trend can be confirmed. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty set for a great bullish move (18/07/23).A good bullish trend has started in the markets and banknifty has gained 600+ points on the daily charts. The market has crossed and closed above the previous close high of 45420 levels. On the hourly charts, there was a 470 points move in the last hour. Banknifty looks bullish and final there is a break out of the trend line. There is a bullish moving averages cross over, on 15 minutes time frame. Support :- 45420, 45240 Resistance :- 45655(ATH), 46000(fib level) A nice 50% fibonacci level retracement was done and now the market is set for another bull leg. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade