TheMamboMomentum

TheMamboMomentum

A flag and pole pattern formation is there on the charts. While market is trading around the resistance zone of the range. If there is a break out of the Flag, wait for the market to clear the resistance levels. A scalp can be made for small targets but intraday position should be initiated only once the upper levels are cleared. Moving average gate is being...

TheMamboMomentum

FinNifty is constantly testing the 20 ema and today also, it opened above the moving average but couldn't sustain the levels and closed below it. It has been trading in a range and is around the upper levels of the range. If there is a gap up opening around 23000 levels, there are chance of market reacting to the round number levels. And bullish entry can only be...

TheMamboMomentum

Banknifty has closed below the 50k mark and is looking bearish on the daily charts. It is trading around the 100 ema on daily time frame, which shows some bearishness in the markets. If the market starts trading below today's low, there are chances of it testing the recent low around 49650. MA strategy and the price action both are signifying some bearish...

TheMamboMomentum

Nifty is trading in a parallel channel and is around the support trendline. From the last week sell the markets recovered and are now again around the lower levels. Daily 20 ema has been creating a resistance for the market and a good rejection is seen from that level. Even on the smaller time frame, market is trading below the moving averages, which signifies a...

TheMamboMomentum

FinNifty is trading around the round number figure of 23k and has taken resistance from 61.8% fib levels. There is a down trend confirmation in the market and sell on rise is the market cycle. For last two trading sessions market has been trading between 20 and 50 ema. If market starts trading below 22800 levels, 22600 shorting target can be achieved and...

TheMamboMomentum

Finnifty on the daily chart has given a nice fall of 600 points after a gap down opening. The index has taken support from 38.2% levels and retested the previous support zone (now acting as resistance zone during the closing hour). If there is a gap down opening below today's low, wait for market to recover and tilt again for the entry. In case of a gap up...

TheMamboMomentum

Banknifty prior to the budget day closed flat and there are chances of a trending market owing to the news. On the hourly charts, the market has consolidation after the first hour candle. Consolidation is good to make the break out/ down to travel. Market is trading around the 20 ema and above 200 ema. If the market break below the moving average, trade using MA...

TheMamboMomentum

Tomorrow it the budget day and the markets today closed in a neutral scenario, forming doji on the daily charts. Option premiums are inflated and the VIX closed gaining 4%. On 15 minutes time frame, the market has given a lower low formation and retraced back to 61.8% fib levels. If the market starts trading below 23500, good crack down can be seen upto 23410...

TheMamboMomentum Updated 

ONGC is a government sector company is trading around the resistance zone. If there is a break out of the consolidation zone good returns can be captured in the stock. The stock has taken a good support from 20 ema which also gives a confidence to hold the stock for a swing trading. Even on the daily charts, the stock has test the 200 ema and chance of it...

TheMamboMomentum

Banknifty on the weekly time frame is still forming an inside candle. If it crosses the previous weekl high of 52800, a bullish trade can be made. The hourly time frame, there is a inverted Head and Shoulder pattern and the high probability trade can be initiated as Nifty is trading around Life time high of 24800. There is chances of BN catching up with other...

TheMamboMomentum Updated 

The stock looks bullish as per the price action. There was a consolidation and a break out after a gap up opening creating a gap. It has retest the break out zone and the gap is filled. HDFC Bank has taken a good support from 1480-90 zone as there is a confluence of 200 ema, retest and fib retracement levels. Entry :- Above 1528 Possible Targets :- 1556,...

TheMamboMomentum

Nifty on the daily time frame has formed a doji after a good gap up opening. Market is travelling on the upper side which is a good sign for the trader waiting for a shorting opportunities. Today it remained in a range from the lower range of 24230 to upper range of 24300. If there is a flat to slight gap down opening, the market will opening this range and...

TheMamboMomentum Updated 

Banknifty on the weekly charts has given a good bullish candle and created a new life time high. It is holding the higher levels and on the monthly candle it has already given a 5% move. Nifty is taking a halt while banknifty is trading on the higher levels. The index has been trading around the same levels for the last 2 trading sessions. In case of a break...

TheMamboMomentum Updated 

Major support levels :- 2575, 2550, 2531 Resistance:- 2600, 2620 If it takes out the upper level of 2620 and closes above it on weekly chart, it can give nice up move. Positional stock or stock future trades can be initiated. Intraday trades can be taken on both the side. Bearish trade for an intraday trade can be initiated on the breakdown of the H&S pattern...

TheMamboMomentum

Nifty on the weekly time frame has formed a doji candle and closed only 35 points higher. Market is stretching a lot and there are chance of showing some profit booking or reversal as the candle on the dialy charts suggest. For last 5 trading sessions, nifty has remained in a 200-250 points zone. If nifty starts trading below 23415 levels, it can test minor...

TheMamboMomentum

FinNifty has been trading in a rising wedge pattern in the last week and has closed around the resistance levels. Tomorrow is the weekly expiry of the index and chances of a trending move is there as the market has consolidated in a narrow range. In the last trading session, finnifty has consolidated in a 40 points range after the hour of trading. Markets were...

TheMamboMomentum

Nifty for the last 3 trading session has been forming doji candle around the higher levels. The market is holding the upper levels but is not moving much above the previous day high. Single hourly candle is giving a move and after that there are many halt candles. Sentiments are looking negative as the RSI is showing a bearish divergence and market is unable to...

TheMamboMomentum

Today nifty after a gap down opening has remained in a 100 points range closing 83 points lower. The daily candle is looking bearish and chance of testing 22580 levels are high, if it starts trading below today's low of 685. Nifty is trading between the moving averages and 20 ema is around the support zone. A bullish leg is there in the market and it is the...