Market Trend Lab

(Banknifty Weekly Chart) Banknifty is downtrending in week timeframe with MACD crossed down. From last 4 week banknifty is resisted by 50 Week Moving Average. Now in coming week one has to observe the support of 100 WMA @10730-10750 . Below this level one can expect a fall upto 50% retracement level around 10500-10530 zone . For coming Week our weekly Agni and JBNSAR levels   are  11160  and  11440  respectively which suggest that banknifty holding  11160--11200  will try to move towards  11440 Whereas  staying below Weekly Agni/JBNSAR it will be weak and may slip upto 10730-----10500 . Our  Weekly JBNSAR  system given Sell signal below  @11525  on 16th july 2013 (open gap down @ 11459).  Part booking is advised near  11000  and balance shall be held till it reversed. On right side of blog,  Daily and weekly Agni/JBNSAR levels   are mentioned they act as important ...

Banknifty is downtrending.  Now on downside it is having one strong support of  10730 and upside immediate resistance will be 11130 and than strong resistance zone of 11305--11430. Our  Weekly JBNSAR  system given Sell signal below  @11525  on 16th july 2013 (open gap down @ 11459). Part booking is advised near 11000 and balance shall be held till it reversed.

Banknifty is turned into downtrend in Day timeframe and is in 'sell on rise' in week timeframe. On downside Banknifty is having support around  11130--11000 zone.  More panic only below this levels. and upside resistance near 11525-11600 zone. Our  Weekly JBNSAR  system given Sell signal below  @11525  on 16th july 2013 (open gap down @ 11459). (Our  Weekly JBNSAR  system given long signal  @11580 on 11th july 2013 and made a high of 11812  there by  resisted near the resistance zone of 11750-11940 zone. Part Booking was adviced near this resistance zone ( gain of 200+ points) and balance reversed on 16th july 2013 @ 11450 ( loss of 130+ points) (Our short signal of 30th May 2013 @12820 reversed on 11th July 2013 @ 11580. There by  Weekly JBNSAR given gain of  1240 points).