Market Trend Lab

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 (Daily Chart) In Daily chart Banknifty is trading in triangle from last 6 days..breakdown will be below 10200 and breakout  from triangle will be above 10550 

Today banknifty opened gap up and made high of 10584.25 once JBNSAR 10323 crossed (given gain of  200+ points) Today banknifty closed above JBNSAR(10323) and Agni level.(10112)

Today banknifty opened gap down @10385 and then went below JBNSAR 10377 and made low of 10160 for the day (given gain of 160+ points on short) Today also banknifty not able to close above JBNSAR.

During these leap years, Jupiter had been in a Fire Sign, i.e., Aries, Leo, or Sagittarius. The tremors that had been felt at the stock market in the past leap years had a strong connection with the  Jupiter-Fire element combination. The table mentioned here will put the spotlight on this theory. It shows the year ended with gain/loss in respective leap year Leap year Planet  Tattva (Element) Fire

Today banknifty made high of 10667.30 but was not able to sustain above 10650 as mentioned yesterday that it is a monthly channel resistance & finally fell down to 10400 first & than 10340. It is also noticed that from 22nd feb banknifty is closing below JBNSAR. So for strength it is required that it should close above agni level as well as JBNSAR.

Today banknifty opened @10180 above agni level of 10108 and then went towards todays JBNSAR 10518 once that crossed it made high of 10561 (given gain of 40 points upward) but failed to close above JBNSAR. Tomorrow is a month end hence presenting monthly chart of banknifty (click to enlarge) 10600-650 is a breakout point of  month from which it fired upto 11200 upward. So it is important for banknifty to close month above this channel resistance for further upmove.

For banknifty it is crucial to stay above 10518-10540 zone to move towards 11000

Yesterday I was out of station so could not update...though banknifty fall down to 10074 below agni level 10619..