Banknifty lost around 800 points in this week and closed near 42k levels. Though the index has been trading above the 20 ema but it is forming a bearish pattern on smaller time frame. Banknifty has tested the 38.2% fib level on the weekly charts and if it breaks below it, it can test lower levels. The market on the daily time frame, has closed below the 20 ema...
Nifty on the weekly time frame has formed an inside candle and closed around 20 ema. The market has been trading in a range for 3 weeks and a trending market can be expected once the high or low of the previous candle is broken. On the daily time frame, the market has tested the 17800 level twice and took support from it closing around 17860. The market is...
SGX taking support from 100 DMA and a bottom of an upward channel. US markets closed in green. $IN1! SGX up by 150pts: Bullish $NIFTY1! Futures at 100 DMA: Wait and Watch NSE:NIFTY Spot NIfty below 100 DMA: Bearish Overall verdict: Wait and watch Monday possible Gap up. Probably will test 18k level on spot.
Banknifty has started closing below the 20 Dma and today it tested 42300 levels. Though, in the last hour the markets regained some momentum and closed around 42600. The market has been trending down and there are resistances created on the higher levels that will oppose an up move. On the hourly time frame, the moving averages are close enough and a bearish...
Nifty has closed near the crucial level of 18k and has tested 17900 level today. Market remained in a bearish mode and formed a beautiful lower high lower low pattern. On the hourly time frame, the market couldn't cross the 20 ema and traded below the moving averages. The market has respected the 20 ema, 15 minute charts, and took rejection from it. In the...
Banknifty on the daily time frame has closed near the 20 ema and took support around 42850. On the hourly time frame, the markets are looking in a bearish mode. The market can consolidate in the first half and give a nice movement in the second half due to weekly expiry. The market on the hourly time frame, has closed near the 200 ema and took resistance from...
A nice trending market was there. Nifty has closed 190 lower and the volume of today are higher. The market can consolidate in the first half and move in the second half. If the markets start trading below 18k levels and sustain below the level, it can test the recent low of 17800. There is a bearish moving averages cross over, on 15 minutes and a rejection of...
Banknifty whole day traded inside the mother candle and during the closing hours gave a nice closing forming a Bullish Marubozu candle. On the hourly chart, an inverted head and shoulder formation is there and if it give a break out banknifty can test new highs in this series. On the smaller time frame, the market traded near the 20 ema and closed around a...
Nifty is facing resistance from the 200 ema and if market start trading above the level, good momentum can be seen. The market has been trading between both the moving averages and has closed near the 200 ema on hourly chart. Indian market has closed near good level and if global cues remain positive market can se a bullish trend and other the side it can give...
NIFTY ON 02-01-2023 Defying weak Global cues Index opened gap up and failed to sustain 18200 and fell to retest 18100 during the first hour of trading session. A sharp recovery from the lower levels was observed and Index reclaimed 18200 during intraday. Several attempts were made by the Bears to bring the Index below but the Bulls took the charge and kept the...
Banknifty has taken a good support from 20 Dma and formed an inside candle. The market as predicted took a halt and nice targets on the either side can be captured in the coming days. On the hourly chart, the market took support form the moving average and closed gaining 200 points. There is a bullish moving average cross over. The market after a initial up...
The market has taken a halt and an inside candle has been formed. The market opened gap up and after initial up move consolidated in 40 points range. On the hourly chart, market took support from the 20 ema and closed near 18200 level. The market consolidated maximum time and on 15 minute chart, took support near 200 ema level. Support :- 18190, 18155,...
Tata Steel In my previous take I had suggested a Call short position given the set up at that time being bearish. That strategy played out well... Now the stock is at same level, however, In the current set up, - the stock is trading above 21 day EMA and 63 day EMA - the stock has tested the time and so far is managing to stay above the May 2022 low The...
Tatasteel is breakinigout with huge volume trading above 20ema next target can be 124 educatinal idea only
Nifty On 29 Dec expiry day, I had suggested a Long trade which was squared off once Nifty touched 21 day EMA. It's there in the timeline. Now, we are looking at Daily candlestick chart pattern 1. Nifty yo-yoing between 21 day EMA (Currently around 18252) and 63 day EMA ( around 18083) 2. Given breakdown below the blue trend line and now retesting it 3....
Banknifty is strong and has given a dragon fly doji on the monthly chart. The market has formed an inside candle and closed gaining 3% on weekly time frame. Even on the daily time frame, the market has formed an inside candle and took support from 20 ema. Banknifty has been respecting the support of moving averages and has closed near the 43k levels. Both the...
The new monthly session has began and the markets have shown some weakness on the monthly time frame as a bearish engulfing candle is formed. A serious rejection from 38.2% fib level on the weekly time frame is there. The market has taken a resistance from 20 DMA and closed around 18100 levels. On the hourly time frame, the market opened near the 200 ema and...