Market Trend Lab

SELL 1 LOT OF UNIONBANK @ 205.65 AND BUY 1 LOT OF VIJAYA BANK @ 56.85.... CURRENT PRICE RATIO : 3.617 TARGET RATIO : 3.40-3.45 STOP LOSS RATIO: 3.75

IMPORTANT POINTS FOR TRADING Now above 11420 it can rally upto 11550 and than next hurdle will be 11710 . And on downside below 11380 it has a three important support that is Banknifty previous top / high of the year  11226  than channel support  11170  and than neckline of inverse head and shoulder pattern  11125 . Now CONJBNSAR is  11474 for 12th oct 2012 . If it triggers than buy signal will be generated.

Pair Trade of SBI_Albk is in profit of 4000+..........!!!!!!!!! On 9th oct 2012 ,SBI FUTURE SOLD @ 2278 LOT SIZE 125 NOW  CMP @ 2212 i.e. in profit of 8306 and ALBK FUTURE BOUGHT @ 141.35 LOT SIZE 2000 NOW CMP @ 139.35 i.e. in loss of 4000.... thereby pair is in net profit of 4306.......Right now price ratio is 15.90 ...  *** Pair trading dairy one can see under 'Banking stocks' tab above *****

IMPORTANT POINTS FOR TRADING Banknifty is consolidating and is in 'sell on rise' mode. Now on downside it has a three important support that is Banknifty previous top / high of the year  11226 than channel support 11170 and than neckline of inverse head and shoulder pattern  11125 .  Immediate resistance will be  11380-11430  zone. Now CONJBNSAR is 11488 for 11th oct 2012  and from today no filtration  on CONJBNSAR Value. Yesterday One lot of banknifty booked with 100 points gain and 2nd lot is on hold till CONJBNSAR reversal signal.

CONJBNSASR triggered short signal on 8th oct 2012 @11418 ... Now b ook one lot of BANKNIFTY short near or below  11320. ..(Low made till now  11271 )  thereby given a gain of 100+  points......  *** Hold 2nd lot till the CONJBNSAR gives reversal signal****

IMPORTANT POINTS FOR TRADING Yesterday banknifty made a doji candlestick pattern which indicates indecision between bulls and bears.  Doji's are often found during periods of resting after a significant move higher or lower; the market, after resting, then continues on its way.  Now immediate resistance will be  11530-11550  zone. On downside it has a support around  11240-11265 zone.  Banknifty is highly overbought in daily chart. It is consolidating and is in 'sell on rise' mode.

Today Banknifty was facing three strong resistance after crossing down 11500 i.e. Day Agni , JBNSAR and CONJBNSAR at 11504 , 11482 & 11492 respectively... and fall down upto 11374 Short taken as per CONJBNSAR has still open as one has to keep filter of 0.6% on CONJBNSAR for 2 days so as to give a survival chance to CONJBNSAR TRADE.. CONJBNSAR has given big rally hence it is possible that it may give whipsaw..  Banknifty is consolidating...

IMPORTANT POINTS FOR TRADING In daily chart Banknifty has made inverse head and shoulder pattern and also broken the neck line which gives target of  12500  in medium term. Now immediate resistance will be  11480-11505  zone. On downside it has a support around  11240-11265 zone.  Banknifty is highly overbought in daily chart and shown weakness in trend after friday freak transaction and now it is in 'sell on rise' mode. Now CONJBNSAR is  11492 for 9th oct 2012 .

CONJNSAR triggered buy signal on 11th sep 2012 at  10054... and today  it given stop and reverse point at   11418  there by given a gain of  1364  pointsssssssss.... **** NOW BANKNIFTY is having hurdle between 11500-11550  and support around 11380-11400 ***** More weakness below 11380-11400

IMPORTANT POINTS FOR TRADING In daily chart Banknifty has made inverse head and shoulder pattern and also broken the neck line which gives target of  12500  in medium term. Due to friday freak transaction,clear direction of  Banknifty will be known by only breaking either side of 11415-11595 levels. Now immediate resistance will be  11550-11595  zone. On downside it has a support around  11415.  (ignoring friday freak transaction). Banknifty is highly overbought in daily chart but no weakness in trend. Now CONJBNSAR is  11418 for 8th oct 2012    and if banknifty breaks the same than only trend will be reversed else the uptrend will continue.