Market Trend Lab

(BANKNIFTY WEEKLY CHART) Banknifty is in downtrend in week time frame. This week Price has reacted to negative diversion. MACD yet to give negative diversion whereas stochastic already crossed down and RSI still struggling at mid point. Now in coming week Banknifty has two important support i.e. 12115 and 11900-11950 ( Channel support ). If holds this than it can move towards 12700 and if fails than it will fall deep upto 11500---11300. Our weekly JBNSAR given sell signal @12820 on 30th May 2013 (right now it is in 600+ point gain ). Part booking was advisable near support zone of 11900-12200 . and balance should be hold with trailing stop loss. On right side of blog,  Daily and weekly Agni/JBNSAR levels   are mentioned they act as important support / resistance levels.. Positional traders should trade with weekly JBNSAR.

WE HAVE GIVEN PAIR  STRATEGY FOR RECLTD AND PFC   ON 5TH JUNE 2013 AS: SELL  RECLTD FUTURE @220.30 BUY PFC FUTURE @178.80 TODAY WE BOOKED PROFIT AS: RECLTD FUTURE @222.30 PFC FUTURE @181.45 BOOKED PROFIT  :  INR  3300 =================================================== For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

(BANKNIFTY DAILY CHART) Banknifty is oversold in daily time frame and hence got bounce off from the support zone of 12115-12180 . Here, part booking is advisable. Our Weekly JBNSAR given sell signal @12820 on 30th may 2013. Now It may trade in a range of   12180 to 12580 . More panic will follow only below 12100-12120 .

(Daily Chart) In daily time frame banknifty has broken the small triangle and neck line of head and shoulder  which gives the target of 11800-11900 . On downside banknifty has support around 12115-12180 zone  below which one can see the panic upto channel support around 11900. One should note that banknifty is oversold in daily time frame. Our weekly JBNSAR has given sell signal around 12820 on 30th May 2013. For weekly update one can refer following link: http://justbanknifty.blogspot.in/2013/06/banknifty-weekly-update-back-in.html

TODAY WE HAVE GIVEN PAIR  STRATEGY FOR SRTRANSFIN AND IDFC   AS: SELL  SRTRANSFIN FUTURE @810 BUY IDFC FUTURE @145.50 TODAY WE BOOKED PROFIT AS: SRTRANSFIN FUTURE @810 IDFC FUTURE @148.25 BOOKED PROFIT  :  INR  5500 ================================ AFTER BOOKING PROFIT AS ABOVE  AGAIN WE GOT THE OPPORTUNITY TO ENTER IN SRTRANSFIN AND IDFC   PAIR (2ND CALL)  AS: SELL  SRTRANSFIN FUTURE @814 BUY IDFC FUTURE @146.30 TODAY WE BOOKED PROFIT AS: SRTRANSFIN FUTURE @810 IDFC FUTURE @147 BOOKED PROFIT  :  INR  3400 OUR BRAVE HEARTS BOOKED PROFIT AS: SRTRANSFIN FUTURE @807 IDFC FUTURE @147.50 BOOKED PROFIT  :  INR  5900 =================================================== For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

 WE HAVE GIVEN PAIR  STRATEGY FOR SBI BANK AND HDFCBANK   ON 29TH MAY 2013 SELL  HDFCBANK JUNE FUTURE @709 BUY SBIN JUNE FUTURE @2134 TODAY WE BOOKED PROFIT AS: SBIN FUTURE @2068 HDFCBANK FUTURE @687 BOOKED PROFIT  :  INR  2750 OUR BRAVE HEARTS BOOKED PROFIT AS: SBIN FUTURE @2084 HDFCBANK FUTURE @688 BOOKED PROFIT  :  INR  4250 =================================================== For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

WE HAVE GIVEN STRATEGY FOR HINDALCO AND SAIL PAIR ON  16TH MAY 2013  AS: SELL HINDALCO FUTURE @108.70 BUY SAIL FUTURE @63.50 TODAY  WE BOOKED PROFIT AS: HINDALCO FUTURE @101 WE EXITED FROM SAIL  ON 29TH MAY 2013 SAIL FUTURE @60 BOOKED PROFIT :  INR 1400 Note : Today We booked profit in  HINDALCO  Which was rollover to june series whereas exited from  SAIL  on 29th may 2013 itself as we applied rescue strategy for this pair specially (because of expiry near by and pair was in loss) .  Though such type of rescue strategy is not the style for pair trading. and it is applied in exceptional cases. ============================== For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

(Daily Chart) In Daily timeframe banknifty has broke down from small triangle. Now on downside it has support around 12115-12200 and on upside resistance around 12835-12900 . Our weekly JBNSAR given short signal @12820. For weekly update one can refer the following post: http://justbanknifty.blogspot.in/2013/06/banknifty-weekly-update-back-in.html

(BANKNIFTY WEEKLY CHART) Banknifty back in Triangle (shown in black dotted lines in above chart) after giving false breakout. In 22nd May 2013 weekly post we shared some interesting observation about banknifty like negative diversion in RSI and might be false breakout from triangle shown in black dotted lines in above chart. http://justbanknifty.blogspot.in/2013/05/banknifty-weekly-observation.html Now it seems that it was indeed a false breakout from triangle and reason for our belief was one negative diversion and other rising channel resistance just above triangle breakout. Triangle breakout was around 12940 and channel resistance was around 13550-13600. Banknifty after breakout made high of 13414 and got sold off which again brought it back into the triangle. Daily trend has turned  downward and weekly trend is 'sell on rise ' mode. MACD yet to give negative cross over whereas RSI is still paused at mid point. This indicators might give clear sig...