TheMamboMomentum

TheMamboMomentum

A bearish engulfing candle on the daily time frame is showing some negative mood in the market but it is taking support from 19630 levels. Not a single green candle is formed on the hourly charts and market fell around 200+ points from the day high, closing 120 points lower or 0.6%. On the hourly charts, market is trading around the 20 ema and has again closed...

TheMamboMomentum

Banknifty has finally traded and even closed above the 46k levels. After a gap up opening, it fill the gap and in the second half crossed the 46k levels. It has closed near the resistance zone of 46100 levels. Banknifty consolidated and gave a break out above 45950 levels. On the hourly charts, it has closed above the 20 ema and it respected the levels after a...

TheMamboMomentum

Nifty traded inside the first hour candle and closed 100 points higher forming a confusion candle charts. The market are consolidating and creating confusion. On the hourly charts, started trading above the 20 ema after the gap up and took support from the levels. Nifty traded in 70 points range after the first hour candle. Initially, both the indices were...

TheMamboMomentum

Banknifty after a gap up opening came of selling initially and closed 80 points lower on the daily close. There is a bearish engulfing candle and market is taking support from 45600 levels. On the hourly chart, market remained in a 200 points range in the second half of the trading session. The market has formed resistances on the highs and are near by the...

TheMamboMomentum

Nifty has traded inside a 100 points range and closed almost flat. A red candle has been formed after a gap up opening. On the hourly charts, market traded below the 20 ema. Today it remained in a range and made difficult for the option buyers. A constant rejection from 19700 level was faced by the buyer and market was unable to cross and sustain above it. On...

TheMamboMomentum

Nifty on the daily charts have formed a red candle losing 72 points. The market has closed below 19700 and on the hourly charts, after taking multiple rejection from 20 ema, it closed below the levels. It has been trading in a parallel falling channel. It also gave a fake out but couldn't sustain above it. On the hourly charts, evening star pattern formation...

TheMamboMomentum

Banknifty has been trading in a parallel channel and today in the second half of the session has consolidated forming a red candle. On the hourly charts, it traded around the 20 ema and closed near to the levels. The market has been consolidating and forming a falling wedge pattern. Break out can good trade points in coming days. Market traded below the previous...

TheMamboMomentum

Banknifty has been travelling with a good moment and has formed a nice green candle gaining 2.8% (1255 points) on the weekly close. Nifty didn't support the up move on friday due to the IT sector fall and banknifty finally closed only 100 points lower. On there daily charts, a doji candle has been formed. Either it is a halt candle or a reversal candle, no...

TheMamboMomentum

Nifty after the IT sector result was dragged 230 points lower losing 1.17% and forming a long upper wick on the weekly charts. On the daily fibonacci retracement, market took support around 38.2% levels and has respected it quite well. The market are in a bullish move and the retracement is also necesary for another leg. The bullish trend is technically correct...

TheMamboMomentum

A 500 points rally took banknifty past 46k levels and market has closed above it. During the morning hour market consolidated and in the second half gave a rally of more than 400 points touching 46200 levels. On the hourly charts, the breakout of the previous day high gave a 350 points rally during the last hours. A sideway to bullish market will be there. Buy...

TheMamboMomentum

Nifty almost touched the 20k levels today and has closed near the high. Market are running higher and Bulls are taking on the sellers making it difficult for the option sellers today. On the hourly charts, the first candle was in red and after that whole day the market rallied upside. The breakout gave a good target and option premium gained more than 200%...

TheMamboMomentum

Nifty is forming new highs daily and today it has closed near the high as well. It has formed a dragon fly doji and is supported by other index too. There are good chances of hitting 20k levels in july series. On the hourly charts, it is trading in a rising parallel channel pattern. Tomorrow is weekly expiry and breakout/breakdown can give good targets. The...

TheMamboMomentum

An Inside candle has been formed on the daily chart and a dragon fly doji has been formed. Market closed gaining 260 points. There was a gap up and a profit booking took market down. Supports are nearby and the market is still in the bullish move. On the hourly chart, a V shape recovery was there. And it is trading above the moving averages. Today option buyer...

TheMamboMomentum

Nifty has given a break out of the parallel channel and is ready to touch 20k levels soon. Bullish trades for positional trade in august series can be carried now. Index from the first hour was in the bullish move and carried the momentum through out the day and gave a nice move in the closing hour of the market. Nifty has given a 146 points gain in a day and a...

TheMamboMomentum

A good bullish trend has started in the markets and banknifty has gained 600+ points on the daily charts. The market has crossed and closed above the previous close high of 45420 levels. On the hourly charts, there was a 470 points move in the last hour. Banknifty looks bullish and final there is a break out of the trend line. There is a bullish moving averages...

TheMamboMomentum

Tata steel is taking resistance from a trend line after forming a ATH in 2021 and the resistance line has been tested 4-5 time and finally it is near a break out. The stock took support from 20 ema on the weekly charts and has formed 'W' pattern. As the markets are trading and forming new highs. Stocks will also follow the same. Watch the metal sector move and...

TheMamboMomentum

Banknifty has almost retraced to 50% fibonacci levels and taken support from 20 DMA. There is a doji again on the weekly charts and is respecting a support zone around 44600 levels. On the daily charts, a dragon fly doji was formed. Banknifty has respected the moving average and took a nice reversal from 20 ema. Market from the first hour was there for selling...

TheMamboMomentum

Nifty on the weekly chart has given a nice bullish candle and almost touched 19600 levels. Market has consolidated and now closed above the resistance zone. A good bullish move is going on in nifty but banknifty is not support it to go higher. On the daily charts, the market has crossed and sustained above the resistance zone around 19525 levels. Flag and pole...