TheMamboMomentum

TheMamboMomentum

SRF Ltd is trading above the trading range and there are chance of the stock travelling forming new highs. The stock has been consolidating in a range for over 3 years and finally the stock has closed above the resistance zone on the daily time frame. In today's session the stock has move more than 6% and in current week it move 10% (approz). After...

TheMamboMomentum

Wipro is showing some good chart pattern. The stock has given a gap up opening and took resistance form 303-305 levels. Watch for a restest of the break out for entry or enter once the resistance levels is breached. Resistance levels ;- 304, 309.5 Support ;- 294.6, 287.5 Wait for a price action and trade accordingly.

TheMamboMomentum

Kotak Mahindra Bank has given good results and reacted gaining 9.21% today. A good support from 200 EMA on the weekly charts and now its trading around a minor resistance zone. For a long time the stock is trading in a range, now the stock has reacted to the news. Either it will take a pause on continue to test the upper resistance around 2000 and 2160. This...

TheMamboMomentum

Major levels Support :-23130, 23050 Resistance ;- 23280, 23350, 23586 Market is still in a down trend on the major cycle. Bullish trend will only be confirmed once nifty starts trading above 24200 levels. For now the market is for sell on rise. Wait for the price action and enter only confirm trades as the volatility in the market is not giving any intraday...

TheMamboMomentum

For last 2 trading session nifty is consolidating in a box, while banknifty is moving 400-500 points in intraday and tomorrow is it's weekly expiry. If the market starts trading outside the box, there is high probability of forming a trending day for the index. Market had respected the round number support of 23k. It can either retest the support or even breach...

TheMamboMomentum

The weekly charts of the index is looking bearish as the market has closed around the 50 EMA. A strong support around the 23400 levels is there. The support has been tested 2-3 times and it is weakening the levels. If the support levels is breached it can test the lower support level of 22k. Sell on rise the market is there. On daily charts market has reversed...

TheMamboMomentum

Nifty is trading around the major support zone and today it has formed a hanging man candle near the support. On the daily charts, there is a dual support i.e. 200 EMA and a support zone. A Head and shoulder Pattern is also being formed in charts. If the pattern is confirmed a good bearish move can be seen in the Indian market. Bullish trades can only be...

TheMamboMomentum

Banknifty is trading in a range is trading around the resistance zone. If their is a upside break out in the index, a trending move can be seen in it. Otherwise, another side way market will be there. Moving averages are around the closing price and EMA strategy may also be implied in capturing the move. Major levels Resistance :- 51835, 52090 Support :-...

TheMamboMomentum

Tomorrow is nifty first weekly expiry of the year. A consolidation is going on in the index and today also it closed in a range. If there is break out of the trendline on the upper side, chances of market retesting 24k levels are high. In case of a fail and market trading downside, a trend downside possibilities are there. 20-EMA and 50-EMA are acting as a...

TheMamboMomentum

Nifty is in a range bound cycle after the bullish move from the recent low. 50% Fibonacci levels is acting as a crucial resistance level for the market. Overall market seems bullish but still the market can take the resistance form fib levels and revert to continue the bearish trend. The moving averages on the hourly charts are near to the trading price and it...

TheMamboMomentum

Nifty has given a nice closing around the resistance zone and a good support on 20 EMA is there on 30 minutes. Tomorrow is weekly expiry and a volatile trading day will be there as all the volume will be in this only index tomorrow. Support levels :- 24460,24345 Resistance :- 24570, 24670 If market consolidate in the first half and gives a break out, trending...

TheMamboMomentum

Nifty has been trading in a range for last five trading session and there are possibility of a trend reversal as the chart seems to me. It is trading around the Hourly EMAs and has closed above it after good fall on Thursday. If there is a break out of the resistance zone, 24500 can also be breached and new highs around 24730 can be seen. A base and W pattern...

TheMamboMomentum Updated 

Dixon is trading in a parallel channel for a while and now it is holding on to the higher levels. The company is a EMS (Electronic Manufacturing Services) and provides them to the listed companies. On the monthly charts, the stock has been travelling and given 150% returns in the current year. Much of the movement is given this year and still the targets of...

TheMamboMomentum

A perfect Head and shoulder pattern formation in Aether Ind. Aether Industries is engaged in the production of intermediates and specialty chemicals. Products for Pharmaceutical, agro chemical, material sciences, coating, photography, additive and, oil and gas, segments of chemical industry. MCap = 10491 Cr P/E Ratio = 103 The company has grown in sale by 30%...

TheMamboMomentum

Market has given a nice movement and for two days it remained in a range but is volatile. There are chance of market either follow the bearish trend or form a 'W' pattern. Nifty has closed around crucial levels from where it can either reverse the trend or continue falling. Major support level :- 24760, 24600 Resistance level :- 25210, 25480 The weekly...

TheMamboMomentum

Banknifty weekly expiry can be seen taking market towards another round number figure of 52500 levels. There was a good bearish movement on the daily charts, market closed 850 points lower. Chance of a follow through can be seen as both the index are moving in tandem. Watch banknifty breaching 52780 levels as there will be double support break down. Major...

TheMamboMomentum

Coal India has been trading in a parallel channel from Feb 2024 and the range has been broken and closing below it has been given on the daily and weekly basis. The stock is trading around a support zone of 480-485. It is trading around the 100 ema levels on the daily charts and closed below 20 ema on weekly charts. Entry in a bearish trade can be made once the...

TheMamboMomentum

Banknifty is trading below the 50k levels and the weekly bearish engulfing candle signifies some bearishness coming. The market has reversed from 50% fib levels and the pattern formation is also negative. Index seems to give a follow through candle in the same direction as it has been trading silently for past few days. Major levels :-50400, 49940, 49670 If...