Market Trend Lab

March Month ended in red and week closed in green @11361.85 Let review the month and weekly chart of banknifty... (BANKNIFTY: MONTHLY CHART) Though March month ended in red but managed to close within 'Long Term Support Line' which at one point of time broken . It took the support near 21 month EMA around 11030. (BANKNIFTY: WEEKLY CHART) At the week end (Expiry), short covering helped the banknifty to  sustain above 100WEMA.  Banknifty has broken the 'Weekly Rising Channel'  and took the support near 100 week EMA around 11040 which was the last hope for bull. NOTE: Banknifty broken  ' Weekly Rising Channel '  suggest bearish torn and Month managed to close within  'Long Term Support Line'  which temporarily puts pause to this downfall. In our last post we suggested that this downfall might get a pause near multi-support zone around  11000-11170  and possibility of market might get into range bound.. and it ...

TODAY MORNING WE HAVE GIVEN PAIR STRATEGY FOR RELCAP AND LICHSGFIN http://justbanknifty.blogspot.in/2013/03/pair-trade-call-relcap-and-lichsgfin.html AS: BUY RELCAP APRIL FUTURE @302.60 SELL LICHSGFIN APRIL FUTURE @221.60 WE BOOKED PROFIT TODAY ITSELF AS: RELCAP APRIL FUTURE @310.50 LICHSGFIN APRIL FUTURE @225 BOOKED PROFIT: INR 4500 OUR BRAVE HEARTS BOOKED PROFIT AS: RELCAP APRIL FUTURE @315 LICHSGFIN APRIL FUTURE @226 BOOKED PROFIT: INR 8000 STATUS: CALL IS CLOSED ================================= CLICK ON FOLLOWING LINK  TO CONTACT US http://justbanknifty.blogspot.in/p/contact_19.html JOIN US AT EALIEST.... For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

PAIR TRADE STRATEGY FOR RELCAP AND LICHSGFIN TO VIEW THE STRATEGY CLICK HERE  AND ENTER PASSWORD: relcap@lic28032013 ============================== CLICK ON FOLLOWING LINK  TO CONTACT US http://justbanknifty.blogspot.in/p/contact_19.html JOIN US AT EALIEST.... For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

(SAVE NATURE, SAVE BIRDS) TODAY WE BOOKED PROFIT IN HDFC AND IDFC PAIR AS: HDFC APRIL MONTH FUTURE @821 IDFC APRIL MONTH FUTURE @142 BOOKED PROFIT : INR 4650 OUR BRAVE HEART BOOKED PROFIT AS: HDFC APRIL MONTH FUTURE @818 IDFC APRIL MONTH FUTURE @143 BOOKED PROFIT : INR 8150 STATUS: CALL IS CLOSED ==================================== WE HAVE GIVEN STRATEGY FOR HDFC AND IDFC PAIR ON 26TH MARCH 2013  AS: SELL HDFC APRIL FUTURE @821.70 BUY IDFC APRIL FUTURE @139.85 TO VIEW THE ABOVE STRATEGY CLICK ON FOLLOWING LINK AND ENTER PASSWROD: hdfc.idfc2603 http://justbanknifty.blogspot.in/2013/03/pair-trade-call-hdfc-and-idfc_26.html ============================================================ CLICK ON FOLLOWING LINK  TO CONTACT US http://justbanknifty.blogspot.in/p/contact_19.html JOIN US AT EALIEST.... For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

We are reposting our monthly and weekly analysis post written on last sunday.. (BANKNIFTY:WEEKLY CHART) Banknifty has broken the support line of 'Weekly Rising Channel' and closed below it @11204.05  but It has managed to close above ' 50Week Moving Average' around 11100  which is the one hope for bull to return. (BANKNIFTY: MONTHLY CHART) In monthly chart, one can see that banknifty is trading near '14Month Moving Average' around 11170 . Secondly though bull failed to close week within the channel but if manage to close month within the 'Long Term rising support line' i.e. around 11255-11300 zone than this downfall gets a pause. Note:   Closing of Week below 'Rising Channel Support Line' suggest bearish torn and if Month also closes below its 'Long Term Rising Support Line'  than  bearishness will gets confirmed and overall trend will turn to downward. This downfall might get a pause near multi-support ...

(SAVE NATURE,SAVE BIRDS) TODAY MORNING WE HAVE GIVEN  PAIR STRATEGY FOR HDFC AND IDFC TO VIEW THE STRATEGY  CLICK HERE AND ENTER PASSWORD STATUS: HOLD =========================== For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

IMPORTANT POINTS FOR TRADING After breaking  'Inverted Cup and Handle Pattern'   (shown in pink dotted lines) in daily time frame banknifty has broken all important support and made a low of 11098 till date and still looking weak. Now immediate resistance for banknifty is  11300  and support around   10890. On right side of blog,  Daily and weekly Agni/JBNSAR levels  are mentioned they act as important support/ resistance levels..

(SAVE NATURE) TODAY MORNING WE HAVE GIVEN CANBK AND UNIONBANK PAIR STRATEGY AS: BUY CANBK APRIL FUTURE @389.50 SELL UNIONBANK APRIL FUTURE @224.70 AND TODAY ITSELF BOOKED PROFIT AS: CANBK FUTURE @375 UNIONBANK FUTURE@215 BOOKED PROFIT : Rs.4900 ========================================== TODAY WE ALSO BOOKED PROFIT IN SBI AND IDBI PAIR SBI MARCH FUTURE @2060 IDBI MARCH FUTURE @84.10 BOOKED PROFIT : 1462.50 STRATEGY FOR SBI AND IDBI GIVEN ON 15TH MARCH 2013. AS SELL SBI FUTURE @2260 BUY IDBI FUTURE @90 ========================================== 'Trade Less Trade Smart' WITH JUST BANKNIFTY

IMPORTANT POINTS FOR TRADING In daily chart Banknifty has made one big  'Inverted Cup and Handle Pattern'   (shown in pink dotted lines)  which is a ' bearish pattern'. It has broken the joining lines of rim and after that made a low of 11173  It has also broken down and closed below ' Weekly Rising channel support'  around   11350-11400...  Now immediate resistance for banknifty is  11300  and above which it will have minor strength to bounce till 11400-11460 zone whereas it has support around   11170   below which it will fall upto  10945-11000 zone. We expect minor rally this week on account of short covering being expiry near by. Below this post one can see weekly and monthly view on banknifty. On right side of blog,  Daily and weekly Agni/JBNSAR levels  are mentioned they act as important support/ resistance levels..