Market Trend Lab

Robert Kiyosaki "The poor and middle class work for money. The rich have money work for them." Financial Intelligence: "It is not real estate, stocks, mutual funds, businesses or money that  makes a person rich but it is information, knowledge, wisdom , know-how,a.k.a. financial intelligence, that makes one wealthy." Kiyosaki divides financial intelligence into five "Financial IQs": 1. Making more Money:                 This is measured by how much money you earn. If you make $100,000 a year, you have a higher financial IQ than someone earning $30,000 a year. 2. Protecting your Money:                   Once you earn your money, you need to hold onto it. Protecting your money, especially from taxes, is the second Financial IQ.

Today Banknifty  closed in red @ 10442.65 down by 64.95 points. It took a support near JBNSAR 10355 & bounced back towards 10500. Finally managed to close above 10400. Still no change in technicals and weakness only when banknifty closes below 10350.         Important EMAs:- 3DEMA@10417.94 , 5DEMA@10351.51 & JBNSAR@10398

Today Bank nifty closed @10507.60 with gain of 187 points. yesterday banknifty was in indecisive mode but today in last hour decided to continue its journey upside. As already mentioned on 8th feb 2012 post that on downside banknifty has support around 10260 to 10280 and resistance near 10370 & 10430. Important EMA :- 3DEMA @10393 & 5DEMA @10306 & JBNSAR @ 10355

                 Important EMA: 3 EMA @10278 & 5EMA @ 10205                           JBNSAR @10261  Today Bank nifty closed @10320.10 with 8 advances and 4 declines. ICICI bank down by 2.06% was the top loser whereas Bankindia was top gainer up by 8.70%. As you see in above chart banknifty is in indecisive mode . On down side it has support near 10260 to 10280 & on upperside it has resistance  around 10370 which also coincides with golden ratio   0.618% of  the fall from 11978 to 7766. and two days high @10430

Taoday Bank nifty opened gap up and made high of 10429.70 , low @10,260.15 and closed @10324.60 with 7 advances and 5 declines. Today after making high banknifty has resisted at neckline around 10370 which also coincides with golden ratio 0.618% of  the fall from 11978 to 7766. Still no weakness seen in bank nifty. it also closed above todays' Agni level @10314                 Important EMA :- Daily 3ema@10237.61 and 5ema@10147.62

BANK NIFTY MADE HIGH OF 10331

              Bank nifty broken weekly channel too. and still no weakness seen.