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Moving Averages

FinNifty weekly expiry analysis for 22/08/23.FinNifty has been trading in a range for last 3-4 session and tomorrow being an expiry there can a trending move. A morning star pattern is there on the daily charts but the resistance level of 19600 is still being respected. If the market starts trading above the level there will be a nice up move as it has consolidated. On the hourly charts, market has given a breakout of 20 ema and is retesting the levels. In the second half of the trading session market remained in a range and lost some gain. On 15 minutes charts, it has closed below both the moving averages and even the RSI is showing some negativity. Support :- 19500, 19440, 19320 Resistance :- 19615, 19670 There are resistances in the short range and market has to clear these resistances in order to form a bullish trend. Still the trend is not clear and scalp trades can be done until the market give some confirmation of the trend. Wait for the price action near the level before entering the market.
NSE:CNXFINANCE
by TheMamboMomentum
Banknifty daily analysis for 22/08/23.Banknifty opened gap up and retested the trendline. The market has closed 150 points higher and remained in a upmove during the first half of the trading session. It has formed a perfect doji on the daily charts but is still not showing some conviction of holding higher levels. On the hourly charts, market gave a nice upmove and took resistance around 44100 levels and there was a sell off from the exact same levels. Banknifty has closed around the 20 ema and looks as it is taking some kind of a support from the level. In the second half of the session market slowly lost points and closed around the round figure number of 44000. On 15 minutes time frame, the market looked jittery as there was not a steady up or down move in the market. Market is still in a confusion state. Support :- 43930, 43740 Resistance :- 44090, 44320 Market test the resistance zone of 44100 levels many time and tomorrow if there is a break out chance of a nice trending market can be seen. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
Nifty daily analysis for 22/08/23.Today the markets tried to move in the upward direction but nifty constantly struggled to cross 19400 level as there is also 61.8% fibonacci level. Nifty tried to cross the level but couldn't sustain above it. The market has closed around 61.8% fib level and if the market again go for a dip it will be a chance to short the markets. On the hourly charts, market formed a grave stone doji and recovered forming a marubozu candle but remained range bound in the second half of the session. Though the market has given a break out of 20 ema but has taken a serious rejection from 200 ema. Tried not enter any bullish trades until the market starts trading above the moving averages. On 15 minutes charts too, market took resistance from the moving average and has closed below both the moving averages. Support :- 19360, 19260 Resistance :- 19460, 19550 During the last hour, there was a sell off and there are chance of market going for another dip. Even the global market are also showing some negativity at present. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
Nifty ( only for min [100-250] Target ) ProNifty 50. (Only for Experienced traders" ) Enter after " Breakout and Retracement ". . . For " long " entry: 19485 target: 19540 - 19647 stoploss: 19440 . . For " Short" entry: 19430 target: 19410 stoploss: 19460 . 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-✌️ . . Disclaimer: Our Trading style is not to capture "10-20" points per trade.📊 We take entry only for min "100-250" points without any distractions.💹 So, our ideas may not be preferable for small traders, who just focusing on too much of support and resistance.📈📉📈 So, please consider others ideas. This is for educational purposes.🧑‍💻
NSE:NIFTY
by TheNuraTrading
Banknifty weekly analysis for 21/08/23.Banknifty has been trading around a major support levels and is around weekly 20 ema. It is taking support from the moving average. For last 4 weeks market has given red candles and has formed a confusion candle this week. On the daily charts, market is stuck in a small range which shows that there is a high probability of a trend market in this week. Banknifty is giving close in a small range ans closed almost flat on friday. In the last trading session market has trading inside the first hour candle. The market is in a sideways mode. Watch a trending market in the coming week. On the hourly charts, the market has been taking resistance from the 20 ema and is trading below both the moving averages. Market is also taking resistance from a trend line, forming a descending triangle pattern. Support :- 43750, 43570, 43400 Resistance :- 43920, 44090 Market has tested 44k levels multiple times, making it a weak resistance levels. Watch for a break out or break down of the levels as there can be a trend move in the markets. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
Nifty weekly analysis for 21/08/23.Nifty of consecutive four weeks have been forming a red candle and is making a support zone around 19250-300 levels. Market has tested another low this week but there is some buying happening around 19250 levels and it has been tested twice this week. On daily charts, market has formed another doji which signifies a confusion in the markets. Nifty has been trading below 20 ema. Nifty is around a crucial levels, if the support zone of 19250 is also breached then there are chances of market going to 18900-19000 levels as there is no support near by. On the hourly charts, there is a bearish moving averages cross over and market is taking serious rejection from 200 and 20 EMAs. Market is being volatile to sideways and there are chance of a trending market as it has been trading in a very small range. Support :- 19260, 19180, 19000 Resistance :- 19360, 19460 Gap up and gap down are limiting opportunities for an intraday trader. Watch markets carefully and let market decide the trend. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
Banknifty (only for min 100-300 points target)Banknifty . (Only for Experienced traders" ) Enter after " Breakout and Retracement ". . . For " long " entry: 44620 / 45120 target: 45030 - 45250 - 45760 stoploss: 44500 / 44980 . . For " Short" entry: 44410 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-✌️ . . Disclaimer: Our Trading style is not to capture "10-20" points per trade.📊 We take entry only for min "100-300" points without any distractions.💹 So, our ideas may not be preferable for small traders, who just focusing on too much of support and resistance.📈📉📈 So, please consider others ideas. This is for educational purposes.🧑‍💻
NSE:BANKNIFTY
by TheNuraTrading
FinNifty weekly expiry for 14/08/23.FinNifty has closed below the swing low and for consecutive 3 weeks it has given red candle. The market tried to retrace from the 19730 levels but this time it has closed below it. On the daily chart, there is a low formation, retest and again it is forming another low. The bearish trend is confirmed and once the index start trading below the previous day low bearish trades can be entered. It has closed between both the moving averages and the formation of an inverted cup is there which gives more conviction of the move to be a trending move. On the hourly charts, the market has formed a bearish moving averages cross over and it has closed below both the moving averages. There are chance of market retesting the moving averages. If there is a negative candle formation near the level, enter a bearish trade. 19780-19850 range is a volatile range. It will be wise too avoid trading in this range as there is too much volatility in this range. Support :- 19620, 19500 Resistance :- 19750, 19835, 19920 Tomorrow is Finnifty expiry and option premium will give good decay. The index on the smaller time frame is forming a lower low lower high pattern which can give confidence in a bearish trade. Wait for the price action near the levels before entering the market.
NSE:CNXFINANCE
by TheMamboMomentum
Where will Hero Motocorp head?Hero Motocorp is trading around the levels from where in can give either side move. The stock has retest the 61.8% fibonacci levels and after takin support from the level it retested and reversed from 50% level of the recent down swing. So the stock right now is trading around 3000 levels and has formed a gravestone doji after a big 7% bearish move last week. Though the stock is showing some bullish moving averages cross over and is coming to retest the moving average. After the tie up for supplying Harley Davidson bike the stock shooted up. The stock tried to consolidate around the recent high but couldn't hold the path and has given a fall from there. The stock on the daily time frame, is trading around the 20 ema and has consolidated near the higher levels of recent swing. Intraday, swing and positional all opportunities are there in this stock as the stock has closed near a support zone and has consolidated in a range for 4 days. If the stock breaches the swing low, a bearish trade can be initiated and continued with a trailing stop loss. The stock can give 1-2% move on the intraday levels and much more in positional trades. Entry 1 :- Below 2980 Target :- 2930, 2860(with trailing SL) Stoploss :- 2995 Entry 2 :- Above 3080 Target :- 3185 Stop loss :- Can be a close below 20/200 ema on hourly charts. The stock is somewhat on the lower range and there are much more chance of a bearish move. If the stock opening gap up avoid trading the stock for intraday as it can trade in a range. Trade only once the stock start trading outside the box. Wait for the price action near the levels before entering the trade.
NSE:HEROMOTOCO
by TheMamboMomentum
Banknifty weekly analysis for 14/08/23.Banknifty has started trading below the previous swing low and closed below it. Volume are getting low on the weekly charts and it is near to the 20 EMA, there are chance of market testing the moving average. On the daily charts, banknifty has formed a bearish candle and after retesting 50% levels it has started trading below the swing. There is a bearish trend in banknifty whereas nifty is still trading well above the previous swing. Both the indices are in different direction and once nifty also starts a sell off, banknifty will fall faster. On the hourly charts, there is a bearish moving averages cross over and market has closed below both the moving averages lossing 340 point on day close. On 15 minute time frame, too market has closed below the moving averages. There was a constant rejection from the 20 ema and a good bear market from opening was there. Support :- 44150, 44040-43960 Resistance :- 44310, 44400, 44560 The market is forming low lower low high formation and bullish trades should be avoided. Sell on rise is the market cycle and chance of big sell of can be seen as it has started trading below the previous swing low. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
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 TheMamboMomentum