Market Trend Lab

Banknifty is downtrending in week timeframe with  MACD  crossed down. It is falling in very steep channel from its all time high@13414 and closed near 38.2% retracement level @9850-9870 zone. All most 10 weeks from the high and still no sign of recovery. Banknifty is highly oversold in week timeframe hence, one should be cautious in initiating fresh short. In coming week , upside resistance @10450-10550 zone and strong resistance of 100WMA@10750 whereas on downside  below 9850 will slip upto 9640 . For coming  Week our  weekly Agni and JBNSAR levels   are  10160  and  10790  respectively. Our  Weekly JBNSAR  system given Sell signal below  @11525  on 16th july 2013 (open gap down @ 11459).  Part booking was advised near  11000  and balance shall be held till it reversed by weekly JBNSAR. On right side of blog,  Daily and weekly Agni/JBNSAR levels   are mentioned ...

Banknifty is downtrending in week timeframe with  MACD  crossed down. It has closed well below  100 WMA @10730-10750  and also below  50% retracement level @10500-10530 zone . For coming  Week our  weekly Agni and JBNSAR levels   are  10720  and  11150  respectively. In coming week banknifty will face strong resistance around 10720-10800 zone.  Whereas  staying below  10500-10550  will slip upto  10000-----9800 levels . We expect coming week will be highly volatile due to key events specially RBI monetary policy review on Tuesday. Our  Weekly JBNSAR  system given Sell signal below  @11525  on 16th july 2013 (open gap down @ 11459).  Part booking was advised near  11000  and balance shall be held till it reversed by weekly JBNSAR. On right side of blog,  Daily and weekly Agni/JBNSAR levels   are mentioned they act as important s...

We have given pair trade call for UNION BANK and IDBI    for July future  on 3rd/4th July 2013 : Sell  IDBI July future @70 .50 (3rd July 2013) Buy UNION BANK july future @174 (4TH JULY 2013)  we booked profit as : UNION BANK July future  @150 (on 24th July 2013) IDBI July future @70 (On 25th July 2013) Sell again IDBI Aug future (rollover) @68.20 (on 25th july 2013) IDBI Aug future closed @ 62 (on 30th July 2013)  AND  Brave hearts closed IDBI Aug future @61.5 (30th July 2013) Booked profit :  INR 2800 Brave hearts profit : INR 4800 ============================= For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY