TheMamboMomentum

TheMamboMomentum

Banknifty has been trading between 38.2% to 50% fibonacci level and remained volatile whole day. The market is taking serious resistance from 45k level and today also it tried to cross the level and reversed after hitting the resistance zone of 45100 level. On the hourly chart, banknifty remained between both the moving averages and gave dji after doji. Trend...

TheMamboMomentum

Market remained in the same range as yesterday and killed option buyer. Nifty for 2 days have been range bound. Today range was 19630-530 and in the second half of the session market remain silent. On the hourly charts, nifty took support from 20 ema and closed above both the moving averages. After a gap up opening market came for selling and reversed after...

TheMamboMomentum

Finnifty on the daily charts has formed a dojo after a gap up opening and has closed below the 20 ema. DJI has given a bullish candle closing 400 points higher which gives a bullish move prediction in Indian markets too. On the hourly charts market has consolidated in a range of 100 points, closing between both the moving averages. Consolidation in done and...

TheMamboMomentum

Banknifty today was too volatile and closed almost flat to negative losing 42 points. It has been trading below the 20 ema and today also it closed below the levels while nifty has closed above its 20 ema. Both the indices were range bound and traded in opposite direction. Even after a gap up opening banknifty couldn't keep the gain. On the hourly charts, dojis...

TheMamboMomentum

Nifty has formed a doji and trade whole day in a range of 100 points. The market is following a rising wedge channel and today has given closing above 20 ema. On the hourly chart, it has closed above both the moving averages. There seems no opportunity for option buyer. Market opened gap up and remained volatile. Fight between buyer and seller couldn't take...

TheMamboMomentum

SBIN has given a fall of 7% in this week after forming a double top pattern. An evening star pattern has been formed on the weekly time frame and stock has closed below the 20 ema. After trading around the ATH stock has given a nice fall and in the last trading session too it has given 3% fall. Volume indicator also confirms the pattern as the volume of the...

TheMamboMomentum

Banknifty in the last week has traded below the previous swing low and is taking resistance from 50% fibonacci levels. It has closed 590 points lower on the weekly charts. The market gave a nice fall in 2 trading session and in the last trading session tried to sustain above 45k level but couldn't. The market on the daily charts, is giving doji after doji and...

TheMamboMomentum

After a halt candle, market has given a nice fall in this week and recovered some points after a gap up opening. Nifty has closed 130 points lower this week forming a dragon fly doji on the weekly chart. The market fell for 3 days and tested 19300 levels after making a high of 19800 this week. The market is creating a bull trend and this is a healthly...

TheMamboMomentum

Banknifty in 2 days have lost more than 1000 points and today has given a doji candle after testing 44300 levels. On the hourly charts, a bearish moving averages cross over has been formed. Banknifty has given a nice fall and can take halt for a day before giving a fall. Market now after 1000 points fall may take a halt or retest before another fall. On 15...

TheMamboMomentum

Nifty on the daily charts has given a doji and closed below 20 ema. The market remained for selling from the initial hour. Due to the weekly expiry today there was buying in the closing hour and market closed below both the moving averages on the hourly charts. The market for 2 day has lost 350 points or 1.8%. Today nifty touched 19300 levels and reversed from...

TheMamboMomentum

Nifty has been trading in a parallel channel and is respecting the channel on the daily charts as it has closed above the support line. On the hourly charts, after testing the 200 ema, nifty reversed and closed above 19500 levels and between both the moving averages. Market today was in a bearish trend from the moving and even after the gap down opening it...

TheMamboMomentum

Finally market has closed below 20 ema and closed below 45k levels. There is a doji candle on the daily charts after touching a low of 44750 levels. RSI is also showing bearish divergence on the higher time frame and after testing the new highs Banknifty is retesting the lows. On the hourly time frame, a tweezer bottom pattern has been formed after touching the...

TheMamboMomentum

Nifty has given a flat closing after gap opening and remained jittery through out the trading session. There was a profit booking initially and after that neither buyers nor sellers took over and formed doji after doji. On the hourly time frame, market took support from the 20 ema and closed near the levels. Market took money of option buyers and consolidated...

TheMamboMomentum

Markets are forming inside candle and has closed flat losing only 58 points. Banknifty has been taking resistance from 50% fibonacci levels and is taking rejection from it. It is respecting the fibonacci series and is forming a bearish pattern A fall and now retest of 50% fib levels shows some bearish move prediction. For last 3 trading session market has...

TheMamboMomentum

NBCC is forming a Cup and handle pattern on the weekly charts and has closed above both the moving average. It has closed near the resistance zone and on the daily charts, has taken support form the 200 ema and closed above both the moving averages. 61.8% fibonacci levels also coincide with the resistance area and if the zone is cleared there are chances of...

TheMamboMomentum

Banknifty has formed a halt candle this week after a nice bullish move last week. On the daily time frame, it has taken a double support from 20 ema and 61.8% Fibonacci levels. The market has formed a doji on the daily chart. Though market has given a breakdown of the range it was trading but there is still confusion where will it move. On the hourly charts,...

TheMamboMomentum

After 4 weeks in green market has given a halt candle near the high forming a red doji candle. Even on the daily charts, market has formed a doji, on the lower side of the range in which it was trading. The monthly expiry was a good one and the trend remain on the sell side whole day. Nifty is trading around 20 ema (daily) and if it breaches the levels it can...

TheMamboMomentum

For the last 6 trading day banknifty has been trading inside a range and today it has formed a bearish engulfing candle. Banknifty is taking support from 45600 levels and has been tested many times. If the levels is breached and market starts trading below the levels, there are high chances of market testing 45200 levels. On the hourly charts, not a single green...