Market Trend Lab

Banknifty not only broken the falling wedge decisively on upside but also came back into rising channel and It is the positive sign. STOCHASTIC i s in oversold condition and MACD still not given  positive cross over . Coming week will be highly volatile being expiry week and after that RBI policy review on 3rd May . H ence, need to be cautious at higher level. As per our AGNI and JBNSAR levels in coming week banknifty will be strong above 11500-11540 and decisively crossing the resistance of 12400 will move towards 12900 . Whereas below 11500 it will be weak and will slip to 11200.

WE HAVE GIVEN STRATEGY FOR AXIS BANK AND FEDERAL BANK ON  17TH APRIL 2013  AS: SELL AXIS BANK FUTURE @1371 BUY FEDERAL BANK FUTURE @439 TODAY  MORNING BOOKED PROFIT AS: AXIS BANK FUTURE @1362 FEDERAL BANK FUTURE @441 BOOKED PROFIT :  INR 3250 STATUS: CALL IS CLOSED ========================================= TODAY WE HAVE GIVEN STRATEGY FOR SBI AND ANDHRA BANK ALSO  (AFTER CLOSING ABOVE PAIR) SELL SBI BANK FUTURE @2231 BUY ANDHRA BANK FUTURE @91.45 TODAY  ITSELF BOOKED PROFIT AS: SBI BANK FUTURE @2283 ANDHRA BANK FUTURE @94.15 BOOKED PROFIT :  INR 4300 STATUS: CALL IS CLOSED ================================== For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

WE HAVE GIVEN STRATEGY FOR UNION BANK AND ANDHRA BANK ON  16TH APRIL 2013  AS: SELL UNION BANK FUTURE @232.70 BUY ANDHRA BANK FUTURE @92.50 TODAY BOOKED PROFIT AS: UNION BANK FUTURE @231 ANDHRA BANK FUTURE @92.50 BOOKED PROFIT :  INR 3400 STATUS: CALL IS CLOSED ========================================= For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

WE HAVE GIVEN STRATEGY FOR ICICI BANK AND FEDERAL BANK ON 15TH APRIL 2013 AS: SELL ICICI BANK FUTURE @1064 BUY FEDERAL BANK FUTURE @424 TODAY BOOKED PROFIT AS: ICICI BANK FUTURE @1065 FEDERAL BANK FUTURE @431 BOOKED PROFIT : INR 3250 OUR BRAVE HEARTS BOOKED PROFIT AS : ICICI BANK FUTURE @1075 FEDERAL BANK FUTURE @ 439 BOOKED PROFIT :  INR 4750 ========================================= For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

(BANKNIFTY : WEEKLY CHART) Banknifty has broken the rising channel and right now it is trading in a falling wedge pattern . For coming week wedge support comes around 10800 and resistance around 11640 .  In above chart One can see one interesting observation related to relation of Wedge pattern,MACD and Stochastic indicators .