Market Trend Lab

(BANKNIFTY DAILY CHART) Banknifty is range bound and Support level of 18400-18500   is crucial to sustain for any rally towards 18900-19000 . Yesterday too banknifty bounced from support level of 18400 . (BANKNIFTY WEEKLY CHART) In above weekly chart one can see RSI still in bullish zone and there is no sign of weakness too. Weekly MACD is trading in narrow rising wedge but still not given any negative crossover. ********** NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:  http://justbankniftystock.blogspot.in   **********   THOUGHT OF THE DAY:   "PERFORMANCE IS THE BEST WAY TO  SHUT PEOPLE UP.."  : MARCUS LEMONIS

(BANKNIFTY DAILY CHART) Banknifty had broken Rising Wedge after MACD got resisted near the resistance trend line and made low near 17502 . If MACD gives positive crossover than banknifty will rally to 18900-19000.. Banknifty sustaining above  18500 can move to 18800--18950 whereas below 18500 will slip to 18400 support level and breaking down of 18400 will take it to 18100 in panic.. In day time frame banknifty is in range bound mode. NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE :   http://justbankniftystock.blogspot.in/