TheMamboMomentum

TheMamboMomentum

The stock has been consolidating in a descending triangle pattern and previously given huge targets after the consolidation phase. It has shown a bearish moving average cross over on the weekly charts and has given a retest to the 20 EMA this week. There is a losing strength as per the RSI indicator though the market is trading above the previous low. Either...

TheMamboMomentum

A nice expiry this week and a good reversal too. Banknifty on the weekly expiry has given a very nice move of 500+ points and the option premium took a toll from the first hour. Though, the market has formed a Harami pattern(bullish reversal) on the daily charts and a dragon fly doji on the weekly charts. For last 3 weeks, it has been closing in a range of 400...

TheMamboMomentum

One fall another day a good point make up. Nifty is just around its ATH. Is it going to break past the ATH as Banknifty or will still take time to break through the major level? A very bullish candle and close, on the weekly charts, shows some strength in the market. Nifty has traded stronger and has sustained above 18800 levels. The bullish move is being...

TheMamboMomentum

Bank nifty pulled the nifty too in the second half of the session. The market has closed 500+ points lower after a consolidation. The market has closed around the support zone of 43400-450. The market can continue the fall or can retest before another leg. On the hourly chart, market has closed below both the moving averages and the fall started from the first...

TheMamboMomentum

Bearish engulfing candle has been formed on the daily charts. It has held the level of 18700 and gave a break down in the final hour. As predicted market gave a nice sell of after holding on the higher levels. There are chances of market testing lower levels further. On hourly charts, the market has again closed between both the moving averages. Support :-...

TheMamboMomentum

Banknifty has consolidated whole day after the first hour fall. A bearish candle on the daily charts have been formed and has consolidated for 3-4 days in a range. The market has consolidated whole day in 60 points range. It constantly hit the hourly 20 EMA and faced rejection. There is much probability of a 300-400 points move either side as tomorrow is...

TheMamboMomentum

Nifty on the daily time frame has formed a dragon fly doji and closed near the previous resistance area. Both the index were in different directions. Banknifty closed 100 points lower and nifty closed 40 points higher. In the first hour, after the gap up opening, tested the 18700 levels and after hitting the support area, slowly gained points. On the hourly...

TheMamboMomentum

A bullish engulfing marabozu candle is there on the daily charts of Banknifty. Market has taken a nice support from 20 ema and given a nice bullish move after touch the support. On the hourly charts, BN remained in a range and given a nice move in the last hour of the trading session and closed above the 20 ema. Even on 15 minutes chart, the market has closed...

TheMamboMomentum

Market has given a flag and pole pattern on the hourly charts and closed above 18700. On the daily charts, the market has formed a bullish candle. Major resistance level 18770-800 is still there and bullish trades can only be entered only after the level break out and sustain above the levels. In the first hour market give a nice bullish candle and consolidated...

TheMamboMomentum

Finnifty on the daily time frame has been consolidating and forming confusion candles. It has taken support from the 20 ema and trading around 19400 levels. Today being weekly expiry nice movement can be seen as the market has consolidated. On the hourly chart, the market has been trading below the 20 EMA and can give 200 EMA as target. Markets are generally...

TheMamboMomentum

Banknifty is trading in a 2% range for last four weeks. Before it the market has given a 4000 points move in 7 weekly candles. Creating a new ATH and consolidation near it shows the strenght of the buyer. Whereas, selle are trying to sell near the high but seems to be weak. The index has travelled more than the 9% move in Nifty. Chance of end of bearish trend...

TheMamboMomentum

Nifty closed below the area where major trading is happening and the seller are really hit on the game selling markets at high. Though, it is a short term bear market. For last two weeks, market has consolidated and has formed another doji near the high. Markets are in confusion and the buyer-seller fight is still on. There is a confirmation as a double top...

TheMamboMomentum

A great bearish move in banknifty, it has broken the recent support of 44000-50 and closed below it. The market has given a bearish engulfing candle engulfing 3 previous day's candle. Banknifty was trading around ATH in the morning session and in the second half has given a nice move of more than 350 points. Being a expiry, there was a good opporunity in the...

TheMamboMomentum

Nifty has given a beautiful bearish engulfing candle. The market gave momentum both the side. In the first half it tried to get close to 18800 but couldn't sustain and gave a 150 points move from the high. Market has closed below the 20 ema on the hourly charts, and there is possibility of testing the 200 ema i.e. 18340(at present) in coming sessions. The...

TheMamboMomentum

Banknifty has given a dragon fly doji candle and closed above the resistance zone of 44250. After gap up opening, market gave a fall and recovered in the second half of the market. On the hourly time frame, the market took support around 20 ema and consolidated in the mid trading hours. There was a "W" pattern, on 15 minutes charts. Support :- 44250,...

TheMamboMomentum

Nifty today has given a nice move and closed above the resistance zone of 18680. It remained strong whole day and gained momentum in the second half after the gap up opening. On the hourly charts, market seems to consolidate in the first half and gained points in the second half closing above 18700. Market seems to touch the high and create new ATH. Support :-...

TheMamboMomentum

Banknifty remained above 44k whole day and during the last hour gained some points giving close above 44150. Market consolidated for 4 hours and gave a nice break out. DJI seems to be flat till now and there can a chance of a bullish break out as the market has closed. Watch the global markets in market to get a clear view and trend of the market. On the...

TheMamboMomentum

A perfect dragon fly doji has been formed on the daily charts. Markets recovered in the last hour of the session. On the hourly charts, the market has closed above the 20 ema. Nifty fell slowlu and recovered quickly during the last hour and closed flat. The market has closed above both the moving averages on 15 minutes charts. Support :- 18560, 18490 Resistance...