Market Trend Lab

STOCK PAIR TRADE STRATEGY PERFORMANCE BANKNIFTY PERFORMANCE 

(weekly Chart) (click on chart to enlarge) The week is ended in red by closing at 12606. In our previous post on weekly analysis on 27th Jan 2013 we have mentioned the level of resistance around 12980.. 12130 and support around 12570--12600.   Link is given below: http://justbanknifty.blogspot.in/2013/01/banknifty-weekly-update.html This week banknifty made high of  12960.65  and low of  12580.85  near the levels mentioned by us. In above weekly chart one can see the channel and rising wedge pattern. Banknifty is trading within the wedge by respecting its support and resistance lines.  For next week channel top and wedge top resistance

(Save Nature, Save Animals) PAIR TRADE CALL FOR PNB AND ANDHRA BANK TO VIEW THE STRATEGY CLICK HERE AND  ENTER PASSWORD : pnbfeb2013 ======================= There is no need to trade everyday... 'Trade Less Trade Smart' WITH JUST BANKNIFTY

(Daily chart : To enlarge click on chart) IMPORTANT POINTS FOR TRADING Banknifty is trading in a  Rising Wedge Pattern..  and its support line comes around   12650-12670. Banknifty is trading in a narrow range of  12650-12875  and which   needs to be broken decisively for further direction. On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..

TODAY BRAVE HEARTS EXITED FROM ALBK AND VIJAYA BANK PAIR  COST TO COST ALBK FUTURE @163 VIJAYA BANK FUTURE @59.70 BOOKED PROFIT : 0 STATUS : CALL IS CLOSED  ========================= TO VIEW THE STRATEGY OF ALBK AND VIJAYA BANK CLICK ON FOLLOWING LINK AND ENTER PASSWORD: albkvb25 http://justbanknifty.blogspot.in/2012/12/pair-trade-call-albk-and-vijaya-bank.html ========================= There is no need to trade everyday... 'Trade Less Trade Smart' WITH JUST BANKNIFTY

(Daily chart : To enlarge click on chart) IMPORTANT POINTS FOR TRADING Banknifty is trading in a  Rising Wedge Pattern.. and its support line comes around 12650. Today immediate resistance will be  12840-12875. On downside   important support of  12650-12690 zone  and below which it will be weak. Banknifty range of 12650-12875 needs to be broken decisively for further direction. On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..

(Daily chart : To enlarge click on chart) IMPORTANT POINTS FOR TRADING Banknifty is trading in a  Rising Wedge Pattern.. within a channel  and yesterday it resisted near the top of the channel @12980. Today immediate resistance will be 12765  and   above this next resistance will be weekly Agni level @12875 . On downside   immediate support will be 12690  and thereafter important support of  12620  and below which it will be weak. On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..

Today We shorted BANKNIFTY FUTURE (FEB MONTH ) @ 13030..  ONE LOT COVERED @ 12800  ,  THERE BY GAINED 230 POINTS IN ONE LOT  AND HOLDING 2ND LOT.

(Save Nature, Save Animals) Today booked profit in   PNB AND VIJAYA BANK PAIR : PNB FUTURE @866 VIJAYA BANK FUTURE @60 BOOKED PROFIT : Rs.3475/- STATUS : CALL IS CLOSED OUR BRAVE HEART ALSO BOOKED PROFIT AS: PNB FUTURE @857 VIJAYABANK FUTURE @59.60 BOOKED PROFIT : Rs.6375/- STATUS : CALL IS CLOSED ====================== PAIR STRATEGY FOR PNB AND VIJAYA BANK GIVEN ON 25TH JAN 2013 To view the strategy click on following link and enter password : p252013vb http://justbanknifty.blogspot.in/2013/01/pair-trade-call-pnb-and-vijaya-bank.html ==================================================== There is no need to trade everyday... 'Trade Less Trade Smart' WITH JUST BANKNIFTY

(Daily chart : To enlarge click on chart) IMPORTANT POINTS FOR TRADING Today is event base trading day as RBI will review its policy. Banknifty is trading within a  Rising Wedge Pattern..  and its support line comes around  12600. Today immediate resistance will be around  12875 and   above this level doors are open for 13000-13130. On downside   important support of 12570-12600 and below which it will be weak On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..

(weekly Chart) (click on chart to enlarge) In above weekly chart one can see the channel and rising wedge pattern. Banknifty is trading within the wedge by respecting its support and resistance lines.  The week is ended in green and also tested the support line of the rising wedge. Weekly  MACD  still in bullish tone and  stochastic  too overbought and in bullish territory.  Cautious Approach should be followed in coming days as 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  12980 and 13130  respectively  whereas on downside wedge support comes around  12570-12600  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 pat...