Market Trend Lab

In above weekly chart one can see the channel and rising wedge pattern.  Last week Banknifty took the support near the weekly JBNSAR level @12390  and had resisted near the top of   Rising wedge pattern and our weekly Agni level of 12815 .  Weekly  MACD  still in bullish tone and  stochastic  too overbought and in bullish territory. One should be cautious on higher levels. For next week wedge top resistance comes around  12850-12870 zone  whereas on downside wedge support comes around  12150  and  78.6%  retracement level of  13303 to 7766  comes around  12115 . When Rising Wedge pattern is found   in an uptrend ,  it is considered a reversal pattern  only when it breaks the wedge on either side otherwise it may continue its uptrend within the wedge...  To read more on  'Rising Wedge Pattern'  click the given link : http://justbanknifty.blogspot...

BANKNIFTY is trading near the top of the  ' Rising Wedge Pattern ' around  12810 (level will rise everyday) . .. Today BANKNIFTY will face strong resistance around  12800-12850 zone and o n downside it has a good support around  12600-12650. Be cautious on higher levels as it is trading in a 'Rising Wedge Pattern' which is termed as reversal pattern in uptrend only when it breaks the wedge otherwise  it may continue its uptrend within the wedge..

BANKNIFTY  : Today most of the time Banknifty traded sideline between  12760 and 12800. It is getting resisted near the weekly Agni level of  12815. Status  :  2nd lot of BankniftY future Long booked with gain of 270 points.  Pair Trade Call  :  HOLD ALBK AND VIJAYA BANK PAIR , ICICI BANK AND BANKBARODA PAIR.

BANKNIFTY is trading near the top of the  ' Rising Wedge Pattern ' around  12780 (level will rise everyday) . ..Today daily Agni level is @ 12735 and Weekly Agni Level @ 12815.  Today keep a watch on 12735 and 12815 level. Above these levels it will have strength to move towards 13000. On downside it has made good support around  12550-12600 Be cautious on higher levels as it is trading in a 'Rising Wedge Pattern' which is termed as reversal pattern in uptrend only when it breaks the wedge otherwise  it may continue its uptrend within the wedge..

BANKNIFTY  : Today after opening gap up, Banknifty traded sideline between 12760 and 12815    the levels mentioned in pre market view. Today it found difficult to cross weekly Agni level of 12815. Status  : HOLD 2nd lot of BankniftY future Long. Pair Trade Call  :  HOLD ALBK AND VIJAYA BANK PAIR , ICICI BANK AND BANKBARODA PAIR.

BANKNIFTY broke out from the channel of a  Flag pattern  around  12600--12610. . and above that ' Rising Wedge Pattern ' resistance comes around  12760 . ..and Weekly Agni Level comes around 12815.  On downside it has made good support around 12500-12550 Be cautious on higher levels as it is trading in a 'Rising Wedge Pattern' which is termed as reversal pattern in uptrend....

BANKNIFTY  : Today Banknifty  given a 200 points rally and we booked one lot of BNF with 84 points gain and 2nd lot holding with gain of   198 points Status  : HOLD 2nd lot of BankniftY future Long. Pair Trade Call  : Today brave heart booked profit of  Rs.3200/-  in ALBK AND IDBI PAIR. Status  : HOLD ALBK AND VIJAYA BANK PAIR , ICICI BANK AND BANKBARODA PAIR.

BANKNIFTY is trading near the top of the channel of a Flag pattern around 12600--12610. . and above that ' Rising Wedge Pattern ' resistance comes around 12730. .. Be cautious on higher levels as it is trading in a 'Rising Wedge Pattern' which is termed as reversal pattern in uptrend.... To read more on 'Rising wedge Pattern' go to link:  http://justbanknifty.blogspot.in/2012/12/banknifty-weekly-analysis-upto-28th-dec.html BANKNIFTY STATUS :  Yesterday our CONJBNSAR given long signal @ 12455 spot and today booked one lot with gain of   84 points and HOLD 2ND LOT .

IMPORTANT POINTS FOR TRADING ********* HAPPY NEW YEAR*********** Banknifty has made  4th  Flag Pattern inside a rising wedge. It is in a consolidation mode with the broad range of  12200 - 12600. Indicators are not giving clear picture as MACD crossed down and Stochastic turned up. There will be no charm if it trades between  12350 to 12550 range.  Banknifty will have strength above 12530-12550  and will be weak below 12390. On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..

BANKNIFTY : Today Banknifty Traded in very narrow range of 12427 to 12512...   Status : HOLD BankniftY future Long. Pair Trade Call : Today booked profit of Rs.2400/- in ALBK AND IDBI PAIR. Status : HOLD ALBK AND VIJAYA BANK PAIR , ICICI BANK AND BANKBARODA PAIR.

  ( SAVE NATURE, SAVE ANIMALS) TODAY BOOKED PROFIT IN ALBK AND IDBI BANK : ALBK FUTURE @ 171.10 IDBI FUTURE @112.65 BOOKED PROFIT : 2400 EXIT RATIO : 1.518 STATUS : PART PROFIT BOOKED AND BRAVE HEART HOLD. ====================================== STRATEGY FOR ALBK AND IDBI GIVEN ON  27TH DEC 2012 TO VIEW THE STRATEGY CLICK THE FOLLOWING LINK AND ENTER PASSWORD : 2012idbi http://justbanknifty.blogspot.in/2012/12/pair-trade-call-albk-and-idbi-bank.html ================================ There is no need to trade everyday... 'Trade Less Trade Smart' WITH JUST BANKNIFTY

(SAVE NATURE , SAVE ANIMALS) BUY ICICIBANK FUTURE @1147.50 SELL BANKBARODA FUTURE @872 ENTRY RATIO : 1.315 TARGET RATIO: 1.35-1.37 STOP LOSS RATIO: 1.29 =============================== There is no need to trade everyday... 'Trade Less Trade Smart' WITH JUST BANKNIFTY

IMPORTANT POINTS FOR TRADING Banknifty has made 4th Flag Pattern inside a rising wedge. It is in a consolidation mode with the broad range of  12200 - 12600. Indicators are not giving clear picture as MACD crossed down and Stochastic turned up. There will be no charm if it trades between 12350 to 12550 range.  On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..

(BANKNIFTY WEEKLY CHART) In above weekly chart one can see the channel and rising wedge pattern. Banknifty has resisted near the top of channel and rising wedge pattern.  This week banknifty traded sideline within the wedge whereas the Weekly MACD still in bullish tone and stochastic too overbought and in bullish territory. In short, yet there is no weakess in weekly chart. For next week channel top and wedge top resistance comes around  12720---12780  whereas on downside wedge support comes around  12050--12100  and  78.6%  retracement level of  13303 to 7766  comes around  12115 . When Rising Wedge pattern is found   in an uptrend ,  it is considered a reversal pattern , as the contraction of the range indicates that the uptrend is losing strength .  To read more on 'Rising Wedge Pattern' click the given link : http://justbanknifty.blogspot.in/2012/12/banknifty-weekly-analysis-and-rising...