TheMamboMomentum

TheMamboMomentum

Banknifty has given a hammer candle around the higher levels after a gap up opening above 48k levels. The index came for profit booking after a good gap up and closed round 48k levels. Now the market is around the last resistance zone of 48300 and then there is the ATH. After a 3 day consolidation there was a gap up and it took the opportunity of making money...

TheMamboMomentum

Bajaj Twin are waiting for a move while other stocks of the group has given good returns in last few months. Both the finance sector companies are trading a break out zone. Banks and other NBFC's has performed and created new highs. Bajaj Finance A bullish engulfing candle on the monthly charts is showing some trend reversal in the stock and has gained over...

TheMamboMomentum

For last few trading sessions, market is volatile and is taking the stop losses. Today also the market remained in a range and closed below the daily 20 ema. There is a rejection from the levels and an inverted hammer is formed on the daily charts. If there is a gap up to flat opening and market starts trading below today's low, it can test the lower support...

TheMamboMomentum Updated 

Nifty has given a 2% fall in a week and closed above 22k levels after testing 21900 levels. It consolidated around the higher level and gave a fall, there is a probability of it continuing the fall. If there is a gap down opening and a retest of the current support level of 21900, a bearish trade can be initiated after a negative price action around it. In...

TheMamboMomentum Updated 

A big red candle on the weekly charts after 4 consecutive green candle is either profit booking or a double top formation confirmation. Banknifty has come for selling but the downside movement is slow which shows there are still buying happening in the market. There is doji formation on the daily charts and a significant selling is not there in the index as...

TheMamboMomentum Updated 

Wipro for the intraday trade is looking bullish and has closed around the resistance zone. The stock after the fall has given a bullish engulfing candle on the daily charts. It has been respecting the resistance trend line. Even the RSI indicator is showing a bullish divergence in the stock. If the stock starts trading above 520 levels and sustain above it, a...

TheMamboMomentum

Today the markets where volatile in the first half and has consolidating in the second. Finnifty remained in a small range between 20610-680 after a good bullish candle aand closed almost flat on the daily charts. For last three trading sessions, market has been forming doji and are highly volatile. It is hitting the Stop losses and moving the direction...

TheMamboMomentum Updated 

After 3 days holiday markets will open tomorrow. Banknifty has been halting around the higher levels and constantly facing rejection around 48k levels. On the weekly charts, there is a bullish move in the market and seems to continue as nifty is around the highs but banknifty is still lagging behind it. An inside candle has been formed on the daily charts and...

TheMamboMomentum Updated 

Nifty has given a break down of the parallel channel and has closed below the 22k levels after a gap up opening. Even 20 ema, on the daily chart, is breached and closing is much below it. Today, not the index even the stock has given bearish move. There were chance of a retest but from the morning nifty was in a bearish mood. It can given another red candle as...

TheMamboMomentum

Nifty has given a nice break out of the parallel channel and now is retesting it. On the hourly charts, the market seem to consolidate around the support levels. If there is a gap up opening, a bullish trade can be captured in the index once it crosses 22420 levels with the targets of ATH. Major support levels :- 22240, 22170 The market is in a bullish mode...

TheMamboMomentum

FinNifty has closed 140 points lower after a consolidation on the higher levels. Tomorrow is weekly expiry of the index and there are chance of markets holding the higher levels. It has taken a good support from the support zone around 20830 and closed near the zone. Major support levels :- 20800, 20720 Market on the higher time frame is in a bullish trend and...

TheMamboMomentum Updated 

It has given a nice up move in a single candle and closed forming a flag and pole pattern. The market movement is consolidation, a move and consolidation again. Tomorrow being the weekly expiry banknifty may give a trending move. Major resistance levels :- 47700, 47830, 48000 If there is a gap up opening, there are chance of market moving even higher and...

TheMamboMomentum

Bajaj finserv has tested the upper resistance levels and there are chance of it giving a break out. An intraday bullish trade can be captured in the stock. If there is a gap up opening and price is around 1625-30, with a strict stop loss around 1615-20 an entry can be made. Target levels :- 1647, 1660. If the Cup and handle formation pattern follows up, Stop...

TheMamboMomentum Updated 

The stock has taken a nice support from the weekly 20 EMA and has closed around the previous candle close. There is a resistance zone around 3950-3985. If this resistance is clear and price sustain above the level. There will be chance of stock touch its recent high around 4160 level. In case there is a pullback and price action near the support zone...

TheMamboMomentum

Finnifty is still lagging behind the other indices and there are chance of it covering up the move tomorrow. Last expiry was a sideway market ahs there are chance of a move in the index as it has take a halt around the higher levels. If there is a gap up opening, market may keep the bullish move on as it will hit the SL of seller and a move can be seen in the...

TheMamboMomentum Updated 

Last week the markets were volatile. A M pattern formation and immediate reversal forming a V pattern shows the volatility. The market need to retest of halt on the upper levels before crossing the ATH. On friday, there was a 2.5% bullish move in banknifty it seem to be bullish as on intraday levels. Positional trades can also be entered, if market comes to...

TheMamboMomentum Updated 

The weekly chart of the market has closed around an interesting resistance zone. Even RSI indicator is showing some strength but price action needs to confirm. Fibonacci Golden Ratio is also in sink with the resistance zone and on the contrary it took support on the weekly charts from the major trend Golden ratio. There is a confusion as both the indices are...

TheMamboMomentum

Nifty has formed a M pattern on the hourly charts and closed below 22k levels. It has closed around the 20 ema on the daily charts. If there is a gap down opening, another selling can be seen in the market. In case there is a gap up to flat opening, wait for the price to breach below the support zone. Major support levels :- 21920, 21830 Tomorrow is the...