Market Trend Lab

(weekly Chart) (click on chart to enlarge) In above weekly chart one can see the channel and rising wedge pattern. Still Banknifty is trading within the wedge and getting resisted near the top of channel and rising wedge pattern.  The week is ended in red and on downside now important support is 12525-12550 zone whereas the Weekly  MACD  still in bullish tone and  stochastic  too overbought and in bullish territory.  Cautious Approach should be followed in coming days as market is going to be driven by news such as December inflation data on Monday, central bank's policy review on 29th January and also the earning results annoucements...etc.. RBI Policy will be the key for further direction of market till than expecting it should trade in 'Rising Wedge Pattern ' only. For next week channel top and wedge top resistance comes around  12800 and 12920 respectively  whereas on downside wedge support comes around  12280 ...

BANKNIFTY  : Banknifty broken down the range of 12650-12850 and made a low of 12583. Yesterday we did risk of buying around support of 12650 but immediately reversed the trade once it broken 12650 and went short. In long trade we booked loss of 30 points and in Short trade we booked profit of 70 points in one lot and holding 2nd lot. Status  : HOLD Banknifty future Short. Pair Trade Call  :  HOLD ALBK AND VIJAYA BANK PAIR , AXISBANK AND YES BANK PAIR.

IMPORTANT POINTS FOR TRADING Banknifty has given a breakout from  'Flag Pattern'  but getting resisted at the top of the  'Rising Wedge' around 12850-12875 . From last one week Banknifty range is narrow down to  12650-12850  as the daily and weekly levels are coming closer... Now on downside immediate support comes around 12700-12740. On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..

Today closely watch two crucial levels 12735 and 12850 . Below 12735 it can slide upto 12650-12620.. Till it breaks the range of 12650-12850 , there will be no charm.

BANKNIFTY  : Banknifty Traded in very narrow range of  12688 to 12792...   resisted near the daily and weekly Agni levels @12805 and 12835 respectively. Status  : HOLD Banknifty future Short. Pair Trade Call  :  HOLD ALBK AND VIJAYA BANK PAIR , AXISBANK AND YES BANK PAIR.

IMPORTANT POINTS FOR TRADING Banknifty has given a breakout from 'Flag Pattern' but getting resisted at the top of the 'Rising Wedge'. Banknifty range is narrow down to 12650-12850 as the daily and weekly levels are coming closer... It will be weak only below 12650 . On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..

STOCK PAIR TRADE STRATEGY PERFORMANCE Recommendations TOTAL No DEC 2012 NOV 2012 OCT 2012 Total No. Of Trade Calls 30 10 11 9 Positive Pair Trade Calls  26 8 10 8 Negative Pair Trade Calls 4 2 1 1 Accuracy Ratio (%) 87 80 91 89 BANKNIFTY PERFORMANCE BASED ON CONJBNSAR STRATEGY MONTH POINTS GAIN SEP 2012 1450 OCT 2012 363 NOV’2012 DEC'2012 TOTAL 933 1169 3915 ============================================================= For Detail performance link is given below :  Stock Pair Trade Strategy :  http://justbanknifty.blogspot.in/p/banking-stocks.html Banknifty :   http://justbank...

(SAVE NATURE,SAVE ANIMALS) PAIR TRADE CALL FOR AXISBANK AND YES BANK :  TO VIEW ENTER PASSWORD : axis8yes ======================================= There is no need to trade everyday... 'Trade Less Trade Smart' WITH JUST BANKNIFTY

(SAVE NATURE, SAVE ANIMALS) TODAY BOOKED PROFIT IN   HDFC AND IDFC  : HDFC FUTURE  @ 835.85 IDFC FUTURE  @180.55 BOOKED PROFIT : Rs. 9575 EXIT RATIO : 4.63 (TARGET ACHIEVED) STATUS :  CALL IS CLOSED. ====================================== STRATEGY FOR HDFC AND IDFC GIVEN YESTERDAY (7TH JAN 2013) BUY HDFC FUTURE @ 835.50 SELL IDFC FUTURE@ 185.10 ENTRY RATIO : 4.51 TARGET RATIO : 4.60-4.65 STOP LOSS RATIO : 4.39 ================================ There is no need to trade everyday... 'Trade Less Trade Smart' WITH JUST BANKNIFTY

( SAVE NATURE, SAVE ANIMALS) TODAY BOOKED PROFIT IN  ICICI BANK AND BANKBARODA  : ICICI FUTURE  @ 1178.35 BANKBARODA FUTURE  @874.90 BOOKED PROFIT :  6313 EXIT RATIO :  1.34 STATUS :  CALL IS CLOSED. ====================================== STRATEGY FOR ICICIBANK AND BANKBARODA GIVEN ON  31st DEC 2012 TO VIEW THE STRATEGY CLICK THE FOLLOWING LINK http://justbanknifty.blogspot.in/2012/12/pair-trade-call-icici-bank-and.html ================================ There is no need to trade everyday... 'Trade Less Trade Smart' WITH JUST BANKNIFTY

BANKNIFTY is facing strong resistance near the top of the  ' Rising Wedge Pattern ' around  12830-12850 (level will rise everyday) . ..  and o n downside below 12650-12670  it will be weak.  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..