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Multiple Time Frame Analysis

Banknifty daily analysis for 10/10/23.Banknifty has closed more than 1% lower on the daily charts but it took support around the major support levls of 43800. The market remained in a first hour candle and has closed below both the moving averages on the hourly chart. There are chance of a trending market as there is weekly expiry of another finance index. For last 2 weeks there were no trend expiry of the 2 finance indices. So there is much possibility of market giving a trend move. On 15 minutes charts, it has closed below both the moving averages. 20 ema is providing market a resistance and it has been retested. The RSI indicator is showing a bullish divergence. The Indian market are strong but due to the global news there was a gap down opening. Support :- 43840, 43740, 43480 Resistance :- 44120, 44250 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Navigating Nifty: Weekly Insights and Geopolitical Battle ImpactTraders! The past few days have been nothing short of a market rollercoaster, with Nifty surprising us at every turn. In our last update, we discussed the breakdown of the inside candle and its subsequent recovery above the uptrend line. However, the market, as we know, is as unpredictable as ever. we're in for a captivating twist today. Let's explore how recent events have shaped Nifty's path, with a particular focus on the weekly chart and the geopolitical factors at play. The Weekly Chart Unveiled 📅 Shifting our perspective to the weekly chart, we discover a fascinating development. Nifty has found support from a trend line that was previously a formidable resistance. This reversal was accompanied by a bullish hammer candlestick pattern on the weekly timeframe. For traders, a hammer candle near a trend line often signals a potential reversal. Geopolitical Ripples: The Israel-Palestine Conflict 🌍 However, markets don't move in isolation. The ongoing conflict between Israel and Palestine has sent ripples across global financial markets, and Nifty is no exception. The first day of this trading week, Nifty opened with a gap down, a clear response to external events. Nifty's Current Position: Back to the Uptrend Line 📉📈 As of now, Nifty is trading around its daily uptrend line. The big question is whether this line will hold. The key scenarios are: 1. Sustained Above Uptrend Line: If Nifty maintains its position above the daily uptrend line, we could witness a reversal, as it did on the weekly chart. 2. Closing Below Uptrend Line: If Nifty closes below this line, we might experience further downward pressure. Trading Wisdom in Uncertain Times 🤔🌟 "In trading, adaptability is paramount. External events can influence markets, but your strategy and risk management are your compass through uncertainty." What's Your Strategy? 🚀 1. Monitor Closely: Keep a close eye on how Nifty behaves around the daily uptrend line. 2. Stay Informed: Stay updated on geopolitical events that might impact Nifty's movement. 3. Risk Management: Always protect your capital, set stop-loss levels, and be prepared for market volatility. Thank you for being an active part of our trading community. Together, we'll navigate the complexities of the market and adapt to whatever challenges come our way! 🚀📊
NSE:NIFTY
by AfnanTAjuddin
5
Banknifty weekly analysis for 09/10/23.Banknifty has been taking support from the 20 ema on the weekly charts and has closed above the level this week too. It is respecting the crucial levels and has closed 223 point lower on the weekly charts. There were gap up and gap down this week and didn't gave any intraday opportunity for an option buyers. The market has closed between both the moving averages, on the daily charts. In the last trading session, banknifty opened 110 points higher and traded in a range of just 250 points whole day. It closed only 147 points higher just decaying the option premiums. The market has been forming a similar pattern on the daily charts and this week can be different. The gift nifty is showing a 113 point gain on the daily close and if it remain same in the morning, Indian market too can show another gap up opening. On the hourly charts, it took support from the 20 ema and has closed between both the moving averages. Market has created support and resistance at a close range and trades should only be initiated once the market crosses the high or low of the previous day. Support :- 44270, 44120, 44020 Resistance :- 44450, 44720, 44975 Banknifty has been respecting a trend line on the hourly charts and its break out can show some bullish move in the market. The markets are still confused in deciding the trend It has been tradin in a 1000 points range for last 15 days or 10 trading session which is unusual for Banknifty. There are high chances of a trending move in the market. Bullish or bearish trades should be trailed if the market start trading above 44700 or below 43700 levels respectively. Wait for the price action near the levels before etnering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty weekly analysis for 09/10/23.Nifty on the weekly time frame has fromed a dragon fly doji after retesting the 20 ema. There is a gap up opening after tested 19350 levels and has closed around the 20 ema on the daily charts. On the hourly charts, the market has closed around the 200 ema. Though, the markets are opening gap up but there is no follow through in the direction. Nifty last week has been froming a consolidation phase after gap up or gap down opening and trading in a narrow range. It has retraced to 19300 levels andi is now standing around 3802% fibonacci levels. For a bullish momentum to continue, it should cross and sustain above the 19900 levels. Other wise market will ramain volatile. Major trend levels are 19900 and 19250. Bullish or bearish trade can be trailed once the market starts trading above or below the levels. Support :- 19560, 19500, 19350 Resistance :- 19730, 19850, 19900 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty daily analysis for 06/10/23.Banknifty is trading below the moving average and has formed a doji candle on the daily charts. After an initial gap up the market consolidated in a range and was range bound causing serious decay in the option premiums. Even the markets consolidated on the weekly expiries and there are now high chances of a trend move in the market. On the hourly charts, market today traded between both the moving averages took support from 20 ema . Support :- 44030, 43890 Resistance :- 44340, 44730 Major levels for trend move are above 44800 and below 43730. Banknifty has been trading between these levels and is creating enough volatility for option buyers. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Banknifty weekly expiry analysis for 04/10/23.Banknifty has been trading in a range and closed in the same range losing 185 points. After the first hour fall the market consolidated and remained inside the first hour candle. On the hourly charts, market has closed below both the moving averages. Market has been consolidating for a few day and tomorrow is weekly expiry. Even on the smaller time frame, market has closed below both the moving averages and closed just around the 20 ema. Support :- 44240, 43900 Resistance :- 44730, 44970 The option buyer have been facing losses for few days and tomorrow being a weekly expiry there are chances of a trending move. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Finnifty weekly expiry analysis for 03/10/23.Finnifty on the monthly chart has formed a gravestone doji and formed a double top pattern on the weekly charts. Index has reversed from the ATH high is yet to created a new all time high. The market has formed a doji candle on the weekly charts after a 3.8% fall in the previous week. Market is consolidating in a similar range and has been trading in between both the moving averages on the daily charts. Tomorrow is weekly expiry, watch for a break out or break down as there are chance of a trend move in the market. On the hourly charts, it has closed between both the moving averages. Support :- 19650, 19550 Resistance :- 19890, 20010 Finnifty has been consolidating for few days and there was no movement in the last expiry. There is a possibility of a trending move as market is closed for consecutive 3 days. Wait for the price action near the levels before entering the market.
NSE:CNXFINANCE
by Mambotrade
Nifty daily analysis for 04/10/23.Nifty on the daily charts, has been trading below the 20 ema and has been closing in a same range of a few trading sessions. A retracement and a consolidation is going on and market are yet to decide which side to move. On the hourly charts, market remained inside the first hour candle and has closed below both the moving averages. The market has closed near the 20 ema, on 15 minute time frame. Support :- 19500, 19250 Resistance :- 19560, 19730 There are chances of market giving a trending move as it has consolidated in a range for 4-5 trading session. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Banknifty weekly analysis for 03/10/23.Banknifty on the monthly chart has formed a gravestone doji and formed a double top pattern on the weekly charts. Index has reversed from the ATH high is yet to created a new all time high as the other index has formed. The market has formed a doji candle on the weekly charts after a 3.5% fall in the previous week. Market is consolidating in a similar range and has been trading in between both the moving averages on the daily charts. A trending week or month is possible as per the technical analysis and intraday trades can be carried forward if the chart pattern or break out/down suggest. On the hourly charts, banknifty has closed between both the moving averages. 44250-44700 is a no trading zone for this week as market is holding these levels. A break out/down after a consolidation phase is powerful. Watch for a opportunity and trade accordingly. Support :- 44250, 43900 Resistance :- 44730, 44970 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Nifty daily analysis for 03/10/23.Nifty is holding the upper levels on the higher time frame is taking a good support around 19250 levels. The index has formed a gravestone doji on the monthly charts and for last three months, its trading above 19000 levels. On the weekly charts, market has shown some retracement after a good up move and has closed above the golden fibonacci levels, forming a neutral doji. Nifty is trading below the 20 ema, on daily charts, and is facing resistance from the levels. It has formed an inside candle or mother baby candle. It is holding the levels and is giving close around the same levels. There are high chance of a trending week or month as the charts suggests. The market is taking a halt and there are high chance of market giving either side move. Watch the market levels before planning a trade as there is no clear trade for an intraday trader. On the hourly charts, market is trading below both the moving averages and has formed a bearish moving averages cross over. Support :- 19500, 19250 Resistance :- 19730, 19850 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
NIFTY ready to REVERSE from this psychological level..?As we can see NIFTY showed a unidirectional fall despite a strong recovery in previous trading session but we can see NIFTY seems to trading at very important SUPPORT now which was an initial start of the uptrend. We can also see NIFTY taking support at the psychological level of 19500 supported by the trendline and hence making it a better place to make fresh buying position with stoplosses below the trendline on closing basis so plan your trades accordingly.
NSE:NIFTY
by Wealthcam