TheMamboMomentum

TheMamboMomentum

Finance sector has finally made a new ATH and it was totally unexpected as there is a 3% move in both the finance indices. FinNifty has given a nice upside move today. It has travelled more than 1000 points after break out of the recent swing high around 19780. It has closed near to the day high which signifies some positive sentiment in the market. Even the...

TheMamboMomentum

Nifty major levels. Support :- 19830, 19730, 19670 Resistance :- 20010, 20135, 20200 The index has closed above the resistance level of 19850. There are high chance of market going bullish as the major resistance has been breached. Wait for the price action near the levels before entering the market.

TheMamboMomentum

Banknifty major levels Support :- 43860, 43750, 43580. Resistance :- 43980, 44080, 44180. Market seems to go bullish as per the daily closing and there are chance of market picking up momentum after cross the round number of 44k. Wait for the price action near the levels before entering the market.

TheMamboMomentum

Nifty has been forming gaps as there are gap up for last 2-3 trading sessions and is trading above both the daily moving averages. On the hourly charts, the market seems to be consolidating in a range for last 2 days. A break out can give a nice rally and nifty has more chances than the expiry index tomorrow. Support :- 19330, 19270 Resistance ;- 19430,...

TheMamboMomentum

Banknifty has formed a nice dragon fly doji or a hammer candle with a bullish engulfing candle on the daily charts. It tested the 200 ema and has closed on a bullish note as it moved 500 points from the day low. On the hourly chart, it has closed above both the moving averages. If there is another gap up opening, there can be a one side rally as it is weekly...

TheMamboMomentum

A nice "M" pattern formation on the weekly charts for banknifty is a nice bearish trend for the markets. Banknifty may retest the neck line of the pattern and continue the bearish move after the retracement. Currently, it is taking resistance from 50% fib level and there are chance of retracing 61.8% fib level. On the daily chart, three doji candle are showing...

TheMamboMomentum

Nifty after a selling has recovered upto 50% fib levels. The market has formed a baby mother candle on the weekly charts and it still trading below the 20 ema. Markets are not doing much during the trading hour as there is a gap up and consolidation during the trading session. On the hourly charts the market has been trading in a range of not more than 60...

TheMamboMomentum

Nifty has formed a red candle on the daily charts and is trading between both the moving averages. It is showing a bearish trend on smaller time frame, also forming a fall wedge pattern. If the market starts trading below 18900, there will be a huge sell off as the low will be cleared and support will be around 18720. On the hourly charts, the market has been...

TheMamboMomentum Updated 

Banknifty has tested 38.2% fib level but is still closed below the fibonacci level. It has given a bullish engulfing candle after testing the low of 42400 it has given close above 43k level. Chance are of testing the 200 ema on the daily front. On the hourly charts, the market has closed between both the moving averages and is around the resistance level of...

TheMamboMomentum Updated 

A bullish engulfing daily candle is showing some positivity in the market. Finnifty has closed above the 20 ema and 110 point higher. It is about to test 38.2% fibonacci level around 19300 level after the fall of last week. Global markets at this time are trading in green. Look for close of global market in the morning as indian market will act...

TheMamboMomentum

Nifty levels Support :- 19070, 19900 Resistance :- 19250, 19400 Market move in a lower low lower high formation in the bearish trend. First leg was formed after creating a ATH and after that it consolidated and now it has formed lower low. This leg is for a retest and another bearish move can be seen. Keep in mind the festive buying will also be there. Look...

TheMamboMomentum

Banknifty has been trading below Weekly 20 ema and has given nice trending movement of around 1500 points from high to low while closing around 940 points lower. It recovered around 1% or 500 point higher on the last trading session that is a retracement after the selling leg. Daily candle is showing a retracement and can test fibonacci 38.2% or 50% level. The...

TheMamboMomentum

Nifty has given a green candle after a fall of more than 3% in the week. It is given a retracement after the fall and the fall may continue as global sentiment are also showing negativity. Moving averages are also showing bearishness as nifty has closed below Weekly 20 ema but took support from daily 200 ema. If the daily level is broken, selling may...

TheMamboMomentum

Banknifty has been trading below the 200 DMA and for consecutive 3 trading session it has closed in red. Today, the close is below 550 points after testing low of 42100. The trend in the market is bearish and more selling upto 41500 level can be seen in the coming days. On the hourly chart, there was a fall in the first half of the session and consoldiated in a...

TheMamboMomentum

Nifty has given a nice fall in the first hour of the session and consolidated in 50 points range in the second half. It has closed around the 200 ema on the daily charts forming another bearish candle of 265 points. On the hourly chart, the market has after the 10:15 candle it remained in a range and has been trading below the moving averages. There is a 3.5%...

TheMamboMomentum

Banknifty has given a nice fall of 2% in just 2 trading session and closed below the round fingure of 43k. Today, it recover for the imbalance in the markets and gave a fall of 200 points in two candle followed by a 300 coming from a single candle that took out the support levels. On the hourly chart, market has given a good fall and consolidated in the second...

TheMamboMomentum

Nifty has continued the fall closing 160 points lower and breaking the major support level of 19250. It has formed another red candle which shows the sellers participation. On the hourly charts, the market consolidated in the initail hour following a 150 point fall instantly below the support levels. Now the market trend is good for a bearish traders and option...

TheMamboMomentum

Banknifty has given a nice trending move after forming a bearish flag and pole pattern in the market. It has closed 570 points lower with major fall in a single hour candle of 14:15. Market continued to hold the previous day low and the support zone around it but in the second half the market started trading below the previous swing low of 43600 finally touch...