TheMamboMomentum

TheMamboMomentum Updated 

Banknifty has formed a nice bullish candle on the weekly charts and closed 750 points higher. The market remained in a range for a while and gave a nice break out during the previous week. In the last trading session market tried to clear the resistance levels of 46600 but couldn't clear the same and closed around 46400 levels. Major resistance levels :- 46580,...

TheMamboMomentum Updated 

A bullish engulfing candle on the daily charts after a gap down opening is showing some positive momentum and there are possibility of market test 22k levels soon. Today the market remained in a bullish move from the morning and closed above the 20 ema. After a consolidation there was a good break out and market tested the resistance level of 21850. If there is...

TheMamboMomentum Updated 

Banknifty has been trading in a wide range of 2000 points for last three week and is constantly trading around weekkly 20 ema. Though it has closed below the moving average and took a retest of 61.8% fibonacci level, giving a nice fall after it. Bullish trade in the index can be trade once it sustains above 46900-47000 zone as it will confirm a W pattern and...

TheMamboMomentum

FinNifty has closed 280 point lower on the daily charts, testing the 200 ema. The closing is around the moving average and once the averages is breached there are chances of it filling a gap upto 19700 levels. It has closed below the round number figure of 20k and consolidated near the lower levels, which shows that there are chances of a trending move on the...

TheMamboMomentum Updated 

Nifty on the weekly charts is holding the higher levels. Still the index is looking confused about the tren. It is respecting the daily 20 ema and a nice support is taking from it. A long legged doji is formed on the close and still above the moving averages. There was a consolidation on the last trading day and chances of a trend move in the coming session is...

TheMamboMomentum Updated 

Banknifty is consolidating in a range for last two trading session and chances are of a trending market on the expiry. Vix is trading around 15, if it increases there will be another sideways market, else there can be a trend market if the Vix cools off. Still, it is taking rejection from the 20 ema on the hourly charts, even the closing is below it. In case of...

TheMamboMomentum Updated 

Nifty has tested the higher levels and got rejected from the high forming a hanging man candle on the daily charts. Weekly charts is still showing some postivity and it is still way high from the weekly 20 ema. The market has gained 500 points on the weekly close and is looking positive as compare to the other indices. Major support levels :- 21820, 21660,...

TheMamboMomentum Updated 

FinNifty is trading in a no trading zone of 21200-21450. It has consolidated today and tomorrow being weekly expiry can give a trending move. It is trading between both the moving averages on the daily time frame. Watch it take support around 200 ema, a short term bearish trend is confirm. If the market opens gap up and takes rejection from the upper zone, good...

TheMamboMomentum Updated 

Banknifty has given a nice move after the budget day and closed 200 point lower on daily close and 1000 points lower from the day's high. The weekly chart is showing a rejection from golden fib ratio of 61.8% around 47k zone. Though, it has closed above the 20 WEMA buy still it is trading below 20 DEMA. The market has given much move in the last week but...

TheMamboMomentum Updated 

Gail has given a nice bullish rally after crossing the previous ATH of 131.5. There has been a 30% bullish rally. It has formed a double top and once it starts trading below 155.80 level it will confirm a "M" pattern too, Today there was a nice sell of in the stock and it closed 5.5% lower with good volumes. Even the RSI indicator is showing a bearish...

TheMamboMomentum

Voltas on the daily close has given a break out of the resistance zone around 1050-60. It made a base around the 20 DEMA and given a nice move with good volumes. Bullish entry can be made in the stock for positional trade for a ultimate level fo 1230. Intraday entry with 1140 as target can be initiated and a stict SL should be kept as tomorrow is...

TheMamboMomentum

Tomorrow is nifty weekly expiry and financial budget. There will be much volatility in the market as both the events are on the same day. Nifty has given a nice move in the first half and consolidated in the second half. If the market opens flat or slightly lower, after the break out bullish trade can be initiated and heavy quantities should be enter only once...

TheMamboMomentum

Banknifty has given a nice up move in the first half and consolidated on the expiry for the rest day. It is facing rejection from a trend line and a resistance zone of 46150. If there is a break out after a flat or gap down opening, it can test the round number figure quickly. In case of a gap up opening, let market retest the break out levels or form a price...

TheMamboMomentum Updated 

Banknifty has closed below the weekly 20 ema and looks bearish as the golden ratio is also breached. The previous trading session has formed a bullish hammer but still is trading below the previous day high. Bullish swing/intrady should be created above 46200 levels. It has taken support from 20DEMA. Major support levels :- 44480, 44290 No trading zone is...

TheMamboMomentum

After the first hour move FinNifty has consolidated and remained in a narrow range. Tomorrow is it monthly expiry and chance are there will be a trending move as it has consolidated today. Major Bullish targets :- 20720, 20925 It has closed around 61.8% level which around the closing of the index. If there is a flat opening and a break out, fresh position...

TheMamboMomentum Updated 

Nifty is looking strong on the weekly charts and the recovery on the last trading session is looking positive too. It has closed around 38.2% fib level. If the market gap up there are chance of a W pattern above 21480, it can test 21550 levels. Wait for a hourly candle close above or below the levels. As good intraday targets can be achieved in the...

TheMamboMomentum Updated 

Nifty on weekly and daily time frame has formed a engulfing candle and chance are there of market going down if it breaks below 21500 level for intraday. It has been taking support from the daily 20 moving average and rejection from 50% fibonacci level. If market tries to move up side it will hit the resistance levels of 21800. In case the level is crossed and...

TheMamboMomentum Updated 

Banknifty is taking support from the weekly 20 ema and has formed a bearish engulfing candle on the charts. The movinga averages are being respected by the market, it is hovering between both 20 and 200 ema on daily charts. A consolidation is there in between 50-61.8% fibonacci levels. It has been trading in a similar range for last 3 trading session and this...