Market Trend Lab

At present Banknifty is trading above all daily and weekly Agni / JBNSAR level and hence it is uptranding. It has build up a good support around 9360_9450 zone and now once again moving towards its stiff resistance zone i.e .9800-9850. It is important to sustain above this level for further upmove towards 10000 .

Banknifty has filled the gap of 9514 to 9579 and now upside resistance is another gap of   9640-80.

As indicated on 31st May and 1st June 2012 that Banknifty had made evening star candlestick pattern near a very important resistance zone hence it was more reliable and below weekly JBNSAR 9490 will fall upto 9360-9260 zone,  And had slipped upto 9252.60.  Today it has downside support around 8890 and upside resistance are 9360 and above that 9420-9490 zone.