Market Trend Lab

(BANKNIFTY WEEKLY CHART) Banknifty is downtrending in week timeframe with  MACD  crossed down. It is highly oversold. Today in above chart we have shown fibonacci fans  and fibonacci retracement supports and resistance (shown with red dotted lines) and falling wedge pattern (shown with black dotted lines )   Which suggest that banknifty above 9600-9660 zone will move towards 9900-10050 zone whereas below 9600  weakness will be continue and may slip upto 9200-9000 level. To read more on 'Falling Wedge Pattern ' go to following link: http://justbanknifty.blogspot.in/2013/04/banknifty-weekly-analysis-and-fallling.html#more For coming  Week our  weekly Agni and JBNSAR levels   are 8940  and 9940  respectively.

Today We have given pair trade call for kotakbank and Indusind bank  as: Buy  Indusind bank future @376 Sell Kotak bank future @653  we booked Profit  today itself as : Indusind bank @370 Kotak bank@635 Booked profit :  INR 6000  Brave hearts booked profit as : Indusind @355  Kotak @615 Brave hearts profit  : INR 8500 ============================= For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

Today We have given pair trade call for Bharti and Idea  as: Buy  Bhartiartl future @309 Sell Idea future @166  we booked Profit  today itself as : Bhartiartl @315 Idea @166.50 Booked profit :  INR 5000  Brave hearts booked profit as : Bhartiartl @321  Idea @166.50 Brave hearts profit  : INR 11000 ============================= For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

We have given pair trade call for ICICI BANK and AXISBANK   on 14th Aug 2013 : Sell  AXISBANK future @1145 Buy ICICIBANK future @900  we booked Profit  on 16th Aug 2013 as : AXISBANK @1080  ICICIBANK @890  Booked profit :  INR 13750  Brave hearts booked profit as : AXISBANK @1045  ICICIBANK @865  Brave hearts profit  : INR 16250 ============================= For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

We have given pair trade call for ICICI BANK and CANBK    for Aug future  on 25th July 2013 : Sell  ICICI Aug future @953 Buy Canbank Aug future @302  we booked as : ICICI BANK @900 (on 14th Aug 2013) CANBK @248 (On 8TH Aug 2013) CANBK SHORTED @250 (8TH AUG 2013) Canbk exited @245 (13th Aug 2013) Booked Loss :  INR -11250  Brave hearts booked profit as : ICICI BANK @860 (on 16th Aug 2013) CANBK @248 (On 8TH Aug 2013) CANBK SHORTED @250 (8TH AUG 2013) Canbk exited @225 (16th Aug 2013) Brave hearts profit  : INR 8750 ============================= For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY