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Moving Averages

Bank Nifty Still in confusion state. Weekly prediction(19/16/23)A nice expiry this week and a good reversal too. Banknifty on the weekly expiry has given a very nice move of 500+ points and the option premium took a toll from the first hour. Though, the market has formed a Harami pattern(bullish reversal) on the daily charts and a dragon fly doji on the weekly charts. For last 3 weeks, it has been closing in a range of 400 points. It has also given close above the 20 EMA on the daily charts after giving a closed below it on expiry. It might be a fake out and markets are ready to touch new Highs. This is also the third time that the market have tested the 43450 levels and recovered quickly. Buyers are there forming a Supply zone. Another pattern is also being formed on the daily charts and if it goes to beark down the neck line very good momentum can be gained. On the hourly charts, the market trading close to both the moving averages. Either side movement can be taken using the MA Setup. Major Support:- 43840, 43400 Major Resistance :- 44120, 44435 Positional and swing trades can be entered only when market sustain above 44430 or below 44400. Intraday and scalping trades can be produced in the zone. Wait and watch for the market movement and price action near the levels before entering the trade.
NSE:BANKNIFTY
by Mambotrade
Good weekly close in NIFTY50(19/06/23).One fall another day a good point make up. Nifty is just around its ATH. Is it going to break past the ATH as Banknifty or will still take time to break through the major level? A very bullish candle and close, on the weekly charts, shows some strength in the market. Nifty has traded stronger and has sustained above 18800 levels. The bullish move is being expected but RSI indicator is showing some bearish divergence on the weekly as well as daily charts. Positional and swing trades should be initiated once the 18770-18900 levels are taken out. Markets have travelled without any serious retest. There are chance of market trapping the bulls. If markets take resistance near 18900 levels and forms a entry, bearish trade can be entered. The market on the daily charts, has formed a upper wick candle but in green. The indecision in the market between the seller and buyer is still to be decided and major levels break out or break down can give big targets. Major Support :- 18770, 18700, 18580 Major Resistance :- 18870-900(ATH) Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty daily analysis for 16/06/23.Bank nifty pulled the nifty too in the second half of the session. The market has closed 500+ points lower after a consolidation. The market has closed around the support zone of 43400-450. The market can continue the fall or can retest before another leg. On the hourly chart, market has closed below both the moving averages and the fall started from the first hour even after a gap up opening. There can be bearish moving averages crossover. Support :- 43100-115, 42820 Resistance :- 43800, 43950 Market in the range of 43450-43800 can reverse from the fibonnaci levels else there no resistance on the upper side. Wait for the price action near the levels before entering the levels.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 16/06/23.Bearish engulfing candle has been formed on the daily charts. It has held the level of 18700 and gave a break down in the final hour. As predicted market gave a nice sell of after holding on the higher levels. There are chances of market testing lower levels further. On hourly charts, the market has again closed between both the moving averages. Support :- 18620-40, 18550-65 Resistance :- 18700, 18740 Market is trading at higher levels and there are resistances in near range. There is BOS and there are chance of market testing 18500 levels. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty daily analysis for 15/06/23 (weekly expiry).Banknifty has consolidated whole day after the first hour fall. A bearish candle on the daily charts have been formed and has consolidated for 3-4 days in a range. The market has consolidated whole day in 60 points range. It constantly hit the hourly 20 EMA and faced rejection. There is much probability of a 300-400 points move either side as tomorrow is expiry. On 15 minutes chart, the market traded around the 20 EMA and closed below both the moving averages. Support:- 43940, 43820 Resistance :- 44120-170, 44435 Market has halted at the same levels for 3-4 day and the breakout/break down can give nice targets. Watch for confirmation of your setup and enter. Wait for the price action near the price levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty weekly expiry prediction 15/06/23Nifty on the daily time frame has formed a dragon fly doji and closed near the previous resistance area. Both the index were in different directions. Banknifty closed 100 points lower and nifty closed 40 points higher. In the first hour, after the gap up opening, tested the 18700 levels and after hitting the support area, slowly gained points. On the hourly charts, the market is still trading above the moving averages and is sustaining above it. Support :- 18700, 18630 Resistance :-18770, 18890 Market has consolidated for few days and tomorrow being a weekly expiry can give a nice move either side. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty daily analysis for 14/06/23.A bullish engulfing marabozu candle is there on the daily charts of Banknifty. Market has taken a nice support from 20 ema and given a nice bullish move after touch the support. On the hourly charts, BN remained in a range and given a nice move in the last hour of the trading session and closed above the 20 ema. Even on 15 minutes chart, the market has closed above both the moving averages. But still it around the resistance zone. Support :- 43940, 43820 Resistance :- 44120-170, 4435 Wait for the price action near the levels before entering. Support and resistance are in small range. Book target or trail SL.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 14/06/23Market has given a flag and pole pattern on the hourly charts and closed above 18700. On the daily charts, the market has formed a bullish candle. Major resistance level 18770-800 is still there and bullish trades can only be entered only after the level break out and sustain above the levels. In the first hour market give a nice bullish candle and consolidated after it. Support :- 18640, 18550 Resistance :- 18770, 18890 (ATH) The market are still in confusion and there is a possibility of a quick retest and after that market can hit a new ATH. Wait for the price action near the price levels before entering the markets.
NSE:NIFTY
by Mambotrade
MACPOWER CNC showing signs of strengthMACPOWER CNC showing good signs of demand at 50 ema with strong volume. Historically this scrip has always taken a good support from 50 ema and continued its positive trend. Another sign of strength is the scrip hasn't yet covered the price gap created on Sep 2022. This shows a strong demand for this scrip. Plus points in this scrip is its positive growing balance sheet and negligible debt. I have entered in this scrip and placed stoploss at 274. *DISCLAIMER* This analysis is only for educational purpose. I am not a SEBI Registered Analyst/Advisor. Please consult your financial advisor before taking any position and please use a Stop Loss for any Investments/Trading Positions. It is your hard earned money so give risk management your highest attention. Do take this disclaimer seriously.
NSE:MACPOWERLong
by nishant_bhatt
Finnifty weekly expiry analysis (13/06/23).Finnifty on the daily time frame has been consolidating and forming confusion candles. It has taken support from the 20 ema and trading around 19400 levels. Today being weekly expiry nice movement can be seen as the market has consolidated. On the hourly chart, the market has been trading below the 20 EMA and can give 200 EMA as target. Markets are generally moving in the first hour or after 1 P.M. On 15 minutes charts, the market has been forming a descending triangle. Its break out can give good movement. Support :- 19390 ,19325 Resistance :- 19445, 19500 Watch for the daily 20 ema for a support as the market has consolidated and closed near the levels. If the support zone and the moving average is broken good bearish trade can be captured. Wait for the price action near the price levels before entering the market.
NSE:CNXFINANCE
by Mambotrade
Banks showing consolidation near ATH.Banknifty is trading in a 2% range for last four weeks. Before it the market has given a 4000 points move in 7 weekly candles. Creating a new ATH and consolidation near it shows the strenght of the buyer. Whereas, selle are trying to sell near the high but seems to be weak. The index has travelled more than the 9% move in Nifty. Chance of end of bearish trend can be there is the market break the support zone of 43900 as there will also be chance of 20 EMA break down on daily charts. It will be a short term bear trend as fibonacci, Weekly 20 EMA and BOS. The markets have formed a lower high and can form a lower low. Crucial level for swing trader is the levels of 43900 with a nice 500-600 points target. Bearish Hedge Positions can be created, if markets start trading below the support zone. Bullish position can only be created above 44400 levels. Technically, markets are showing some negativity and the candle formed on the daily charts, shows a bearish move and a halt. A sell on rise can be the market cycle for June expiry and watching market creating new highs in July. Intraday opportunities will also be of sell on rise and wait for the price action near the levels. Big target can be achieved if position and trail stop loss is ready. Next week option can be taken for creating bearish hedge positions. Put credit spread and Backeven hedging strategy will work giving small losses and big profits with little adjustment in trailing stop loss and position creation. Watch for market to start trading below 43900 and hitting 43450-500 as support zone.
NSE:BANKNIFTY
by Mambotrade
Is market forming new ATH or getting ready to retrace?Nifty closed below the area where major trading is happening and the seller are really hit on the game selling markets at high. Though, it is a short term bear market. For last two weeks, market has consolidated and has formed another doji near the high. Markets are in confusion and the buyer-seller fight is still on. There is a confirmation as a double top patter is also beening formed. 1600 points or 9% move in nifty without a serious retracement on weekly charts. Though, markets have given good bullish move forming Higher Highs Higher Lows and is standing near the ATH but is losing the strenght for another up move as RSI is showing a divergence. People see a up move but before the move the markets will give a dip to hit the stop loses. Look for a Break Of Structure (BOS) forming a Lower Low. The major level of swing trades is below 18450-500 as there will be a BOS and 20 EMA will also give a break down on daily charts. For positional traders, there is an opportunity on the weekly charts where the next support seems to be around 18k levels. Fibonacci levels, support zone and moving averages all are converging creating a strong support near the levels. Enter trade only after there is a pattern formation or a retest and adapt for trailing stop losses to carry on with the trades. MA setup can also adopted for targets and stop loss as Daily and weekly moving averages are around the support zones. High chances are of a retest before Nifty creating a New ATH. Buyer have wait as per the technical analysis predicts. Wait for a confirmation and break down.
NSE:NIFTY
by Mambotrade
Banknifty daily analysis for 09/06/23.A great bearish move in banknifty, it has broken the recent support of 44000-50 and closed below it. The market has given a bearish engulfing candle engulfing 3 previous day's candle. Banknifty was trading around ATH in the morning session and in the second half has given a nice move of more than 350 points. Being a expiry, there was a good opporunity in the last hour. On the hourly charts, market has broken the 20 ema and closed well below it. Support :- 43850, 43710 Resistance :- 44050, 44200-240 Market has given both side move today. It can take a halt or fall futher to test lower levels. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 09/06/23.Nifty has given a beautiful bearish engulfing candle. The market gave momentum both the side. In the first half it tried to get close to 18800 but couldn't sustain and gave a 150 points move from the high. Market has closed below the 20 ema on the hourly charts, and there is possibility of testing the 200 ema i.e. 18340(at present) in coming sessions. The market even tried to trap the retails by giving a fake out above 20 ema, on 15 minutes chart. Support :- 18550, 18490 Resistance :- 18700, 18800. Both side momentum has been there in today's trading session. The market may take a halt of fall further. Watch support and resistance. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade