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Multiple Time Frame Analysis

Nifty weekly analysis for 16/10/23.Nifty on the weeekly charyts has given a nice bullish candle and has closed around 100 points higher. After the gap up opening on Monday due to the international news it recovered and took support from 50% fibonacci level. It is holding the higher levels but is still trading below the major resistance level of 19900. On the daily charts, there are gap up and gap down and nifty has closed above the 20 ema. No clear view is there in the market. Less option buying opportunities are there. Last 2-3 weeks has been for option seller as it is trading in a range. The markets have consolidated and a break out/down can be seen with a proper follow through in the markets. On the hourly charts, it took support around the 200 ema and closed between both the moving averages. Nifty consolidated for 2 days in a range and took the opportunity as it opened gap down. Major Support :- 19250-300 Resistance :- 19840-900 For intraday trading levels. Support :- 19730, 19670, 19580 Resistance :- 19780, 19840 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
GOLD FUTURE - BULLISH PRICE ACTIONBullish price action refers to a series of price movements and candlestick patterns in a financial market that indicate an upward or bullish trend is likely to continue or emerge. Here are some common signs of bullish price action: 1. Higher Highs : In an uptrend, each successive high should be higher than the previous one, demonstrating an upward momentum in prices. 2. Higher Lows : Similarly, each low in an uptrend should be higher than the preceding low, indicating that buyers are willing to step in at higher price levels. 3. Bullish Candlestick Patterns : Look for bullish candlestick patterns like bullish engulfing patterns, hammer, morning star, or doji reversals, which can suggest a potential shift in momentum to the upside. 4. Support and Resistance : When price breaks above a significant resistance level or a moving average, it can be a strong bullish signal. 5. Volume Increase : Increasing trading volume as prices rise is often a confirmation of a bullish trend. 6. Trendlines : Drawing an upward-sloping trendline connecting the lows can help visualize the bullish trend.
MCX:GOLD1!Long
by CA_Anand_Navander
Nifty weekly expiry analysis for 12/10/23.Nifty held on to the higher levels while banknifty gave away the points after a gap up opening. It gained some points after a gap up opening and consolidated after the first hour move in a 50 points range whole day. There is a bullish moving averages cross over, on the hourly charts, closing above both the moving averages. On 15 minutes time frame, market took support from the 20 ema and has closed above it. Tomorrow is nifty weekly expiry and it has closed around higher levels. There are chance of another gap up as the closing suggest. Support :- 19770, 19720 Resistance :- 19840, 19900 Nifty is showing positive sentiment in Indian market and can retest the recent high in coming weeks. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
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 TheMamboMomentum
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 TheMamboMomentum
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 TheMamboMomentum