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Moving Averages

Banknifty daily analysis for 08/06/23.Banknifty has given a dragon fly doji candle and closed above the resistance zone of 44250. After gap up opening, market gave a fall and recovered in the second half of the market. On the hourly time frame, the market took support around 20 ema and consolidated in the mid trading hours. There was a "W" pattern, on 15 minutes charts. Support :- 44250, 44150 Resistance :- 44350(today's high), 44500 The market have supports close by and is ready to travel in bullish momentum. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 08/06/23.Nifty today has given a nice move and closed above the resistance zone of 18680. It remained strong whole day and gained momentum in the second half after the gap up opening. On the hourly charts, market seems to consolidate in the first half and gained points in the second half closing above 18700. Market seems to touch the high and create new ATH. Support :- 18680, 18550 Resistance :- 18800, 18870 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty daily analysis for 07/06/23.Banknifty remained above 44k whole day and during the last hour gained some points giving close above 44150. Market consolidated for 4 hours and gave a nice break out. DJI seems to be flat till now and there can a chance of a bullish break out as the market has closed. Watch the global markets in market to get a clear view and trend of the market. On the hourly charts, the market closed above both the moving averages and is near a resistance zone of 44250. Support :- 44050, 43850 Resistance :- 44260, 44450 Currently, the market is trading in a range and break out can give nice target. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 07/06/23.A perfect dragon fly doji has been formed on the daily charts. Markets recovered in the last hour of the session. On the hourly charts, the market has closed above the 20 ema. Nifty fell slowlu and recovered quickly during the last hour and closed flat. The market has closed above both the moving averages on 15 minutes charts. Support :- 18560, 18490 Resistance :- 18680, 18800 The market has been trading in a range and can give nice up move as it is holding the upper levels. Bullish trades should only be initiated once the market crosses the major resistance area of 18700. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
JSW steel at interesting levels 05/06/23.JSW steel on the weekly charts has been consolidating in a range and trading around the 20 ema. The stock has taken support from 0.618 fibonacci level but unable to close above 0.382 levels. It is consolidating in the same range. Stock can give either side movement and is currently trading near the resistance levels. On the daily time frame, the stock is trading around 20 and 200 ema. The moving averages are close enough. There will be a confirm long or short trade as moving averages will also be giving a break out or down. Intraday and swing trades can be initiated if the stock starts trading outside the box. Wait for the price to retest the break out or break down levels. Swing trades are there on the charts. Must watch for a price action near the levels before entering the trade.
NSE:JSWSTEEL
by Mambotrade
Nifty weekly analysis for 05/06/23.Nifty for the last 3 trading session has been trading in a range and next week trade in nifty can give good points. On the higher levels the market has given a bearish doji candle. There can be a double top formation as the market prevoiusly reversed from 18680 levels. The market has given a rally of 1600 points in 2 months time. There will be a retracement before another up move. Markets on the hourly charts, trading around 20 ema. Support :- 18490, 18420, 18280 Resistance :- 18585, 18680 The market has consolidated for ample time. There are chance of a break down, if entered a bearish trade good target can be achieved. Wait for the price action near the price levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty weekly analysis for 05/06/23.Banknifty is sustaining at the higher levels and created a new ATH of 44500, Though on the weekly charts, a red candle is formed still the markets are around 44000. Markets have been taking support around 43500 previously and can test the same levels in coming week. The market has been testing 20 ema on the weekly time frame as a support and 20 ema as resistance on houly charts. The market has been forming lower low lower highs and is still on the higher levels. Support :- 43830, 43700 Resistance :- 44050-150, 44500 THe market has reversed from 44150 levels and if the market enters 44050-150 range enter on after it closed above or below the levels. Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 02/06/23.Nifty has closed below the round number figure of 18500. The market has given a nice fall in the second half of the trading session. On the hourly time frame, nifty has started trading below 20 ema and has given a negative closing. The market tried to sustain at the higher levels but couldn't hold long. Nifty still remained strong as compare to the finance sector. On 15 minutes time frame, the market has tested the 200 ema and closed between both the moving averages. Support :- 18440, 18280 Resistance :- 18580, 18690 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty daily analysis for 02/06/23.A bearish candle has been formed on the daily charts in banknifty and has closed below the low of previous day. On the hourly chart, the market consolidated in the first half and remained in a narrow range of 150-60 points. Banknifty constantly took resistance from the 20 ema and gave a nice bearish movement in the second half of the trading session. Markets have closed on a negative sentiment and the fall can continue upto 43400 levels. There is a bearish moving averages cross over on 15 minutes charts. Support :- 43700, 43450 Resistance :- 44040, 44150 Markets tried to sustain at the higher levels and has given a nice down side fall of 400 points in the last hours of the session. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Banknifty daily analysis for 01/06/23 (weekly expiry).Banknifty tried to gain some point in the last hour of the trading session and has formed a dragon fly doji on the daily chart. It closed above the 44100 levels. On the hourly time frame, the market has started trading below the 20 ema and took resistance from it. The market gave break down of 44250 levels and has retested the same levels. Support :- 43835, 43400 Resistance :- 44250, 44450 The market has consolidated, gave a break down and has also retested it. If the market starts trading below 44k levels it can test lower levels too. wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade