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Multiple Time Frame Analysis

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 TheMamboMomentum
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 TheMamboMomentum
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 TheMamboMomentum
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 TheMamboMomentum
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 TheMamboMomentum
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
Nifty daily analysis for 26/09/23.Nifty has formed a perfect doji on the daily charts after testing 61.8% fibonacci levels. It is trading below the 20 ema. The market has given a nice fall after forming a new ATH and is now giving a consolidation. On the hourly charts, it has closed below both the moving averages and is taking resistance from 200 ema. There are chance of a cross over. There was a nice consolidation in the market and there was a good move in both the directions. This confusing market will take the profits and even cause more losses. It would be wise to wait and watch for a trending move in the markets. Support :- 19600, 19500 Resistance :- 19730, 19800 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
Banknifty daily analysis for 26/09/23.A doji is formed on the daily charts and now there is a confusion in the market where it will go after testing the recent high. Banknifty has closed gaining 150 points but nifty remained silent and closed flat. On the hourly charts, there is a moving averages cross over and it taking resistance from the levels. There was a both side movement today and has consolidated in the second half of the session. Support :- 44600, 44420 Resistance :- 44890, 45110 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
1
NIFTY yet to moveAs we can see NIFTY remained sideways throughout the day despite us discussing about the strong up move that could possibly be witnessed. Now that NIFTY can still be seen maintaining itself above our demand zone and hence long positions can be made BUT following the global cues, we can expect NIFTY to open weak and hence as long as NIFTY sustains itself above our demand zone we can expect a strong RECOVERY else below the zone, we can see this level acting as a resistance so the market could be tricky in coming trading sessions so plan your trades accordingly
NSE:NIFTY
by Wealthcam
Finnifty monthly expiry analysis for 26/09/23.Finnifty has formed and inside candle on the daily charts and is trading below the 20 ema. It is taking a rest after a 4-days fall. The market is around the 19850 levels after forming a double top pattern on the higher time frame. There is a bearish moving averages cross over, on the hourly charts. It has retested the 20 ema and is taking a serious resistance around the levels. Today, the market has consolidated and tomorrow being a monthly expiry there can be a trending move in the index. Finnifty traded around the 20 ema, on 15 minute time frama. Support :- 19730, 19550 Resistance :- 19920, 20030 Watch the option premium as tomorrow is monthly expiry for Finnifty. Wait for the price action near the levels before entering the market.
NSE:CNXFINANCE
by TheMamboMomentum