Market Trend Lab

(Banknifty: weekly chart) In week timeframe, Banknifty MACD has broken down the 'Rising Wedge' with negative cross-over and what a free fall..!!!!!!!!!!!.  Banknifty had found difficulty to sustain above 18500 level. Now on downside two crucial supports to watch are near 17500 level (200DMA) and 17220 (50WMA). Banknifty trend is down and every rise met with selling pressure.  According to weekly JBNSAR banknifty is weak below 18370 .

(BANKNIFTY WEEKLY CHART) In week timeframe , Banknifty MACD has given a negative crossover and also broken down the rising wedge. Whereas banknifty price closed the week within the  channel  (shown with pink color) . Now  channel  support comes around  18500 .  Banknifty is weak and 'sell on rise mode' It will have strength only above 19200 and on downside  it has support near  18500--18200--17900. ************************************* NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:  http://justbankniftystock.blogspot.in **********

(BANKNIFTY WEEKLY CHART) Banknifty in week timeframe is trading well within the  channel  (shown with pink color) made high near the resistance line  20907 . Now  channel  support comes around  18000-17900  .  MACD   has made a rising wedge and now it is near the support line and even the price near the support line of channel..so breaking of same only will make banknifty weak and till than bias is positive. In week timeframe banknifty above  19000   it can move to 19500----19800--20200  where as below 19000 it has support near 18500--18200--17900 ************************************* NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:  http://justbankniftystock.blogspot.in ********** THOUGHT OF THE DAY: "Its better to be UNIQUE than the The BEST, because...  Being The BEST makes you the number one, But..  Being UNIQUE makes you THE ONLY ONE !!"

(BANKNIFTY WEEKLY CHART) Banknifty in week timeframe is trading well within the channel (shown with pink color) made high near the resistance line 20907 . Now channel support comes around 17700 and resistance near 20900 . MACD is about to give negative cross over. In week timeframe banknifty is having strength above 19500 only and on downside support near 18700 below which more panic upto   18200--17700 . ********** NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:  http://justbankniftystock.blogspot.in ********** THOUGHT OF THE DAY: "Its better to be UNIQUE than the The BEST, because...  Being The BEST makes you the number one, But..  Being UNIQUE makes you THE ONLY ONE !!"

(BANKNIFTY DAILY CHART) In our last post on weekly update we indicated that banknifty is trading well within the wedge and  boldly written that Daily MACD is near the support line and which likely to give bounce towards 19000-19100 and having strong support at 18500-18400 level. This week it  took the support near 18500 and made the high of  19410 till date., Now on upside its having resistance near 19400-19500 and sustaining above this zone will open the door for 19800-20000 level in short term. Whereas on downside immediate support is around 19030-18910 . Still there is no weakness in banknifty in daily as well as weekly timeframe. ********** NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:  http://justbankniftystock.blogspot.in ********** THOUGHT OF THE DAY: "The more difficult the victory, The greater the happiness in winning.." :Pele

(BANKNIFTY WEEKLY CHART) In above weekly chart, banknifty is trading in ' Rising Wedge ' and  hence, one has to be a cautious at higher level. Weekly MACD yet not given a negative crossover nor price broken down the wedge. (BANKNIFTY DAILY CHART) In Daily chart, MACD is near the support line which likely to give some bounce. 18400-18500 is a strong support level and above which it can move towards 19000-19100 . ********** NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:  http://justbankniftystock.blogspot.in ********** THOUGHT OF THE DAY: "You were born to win, but to be a winner, you must plan to win, prepare to win and expect to win" : ZIG ZIGLAR

(BANKNIFTY WEEKLY CHART) As indicated in earlier post banknifty rallied towards 19000 and made a high of 19166 . Banknifty is trading in 'Rising Wedge' in weekly timeframe and today it made the low (18388) near its support line. MACD yet to give negative cross-over.   Banknifty below 18400 will slip to 18100--18000 . On upside immediate resistance is 18670--18735 . Breaking down of wedge will target 17500--17300 . ********** NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:  http://justbankniftystock.blogspot.in **********   THOUGHT OF THE DAY: "WINNING IS NOT EVERYTHING, BUT THE EFFORT TO WIN IS.." : ZIG ZIGLAR