Market Trend Lab

Above is banknifty daily chart with Bollinger Band indicator which shows resistance around 11185  and above that resistance near 11250 Above chart shows banknifty has made Head and Shoulder Pattern and neckline of which also broken down which indicates deeper correction towards 10000 level in short term to medium term. One can also see small triangle (shown with red lines) in above chart , which shows resistance around 11250 and rising support around 11150 below which banknifty will be weak and may slip upto 10900 Above chart shows Banknifty is trading in Falling wedge Pattern and facing selling pressure near the resistance line of Wedge, 50DMA & 200DMA and may slip towards support line of wedge and 100DMA near 10700 . NOTE : Banknifty is facing multiple strong resistance on upside from 11150 to 11250 zone and on downside it is having good support zone of 10950 to 11050 . Hence, it will be range bound from 10950 to 11250 and major trend w...

(Banknifty weekly chart) Banknifty has given a breakout from the Falling Wedge patten  and now MACD has given positive crossover. On upside banknifty is having resistance near 10700-10800 zone. and on downside it is having support around 10500. .. and below that 10350 . On 9th Oct 2013 , our JBNSAR given long signal @10245 ... one lot booked  on same day near 10320-10350 zone and 2nd lot advised to book  11th oct 2013 near 10600. Thus, in October month we already booked gain of  692  pointsssssssssss !!!!!!!!!!!

(BANKNIFTY WEEKLY CHART) Banknifty is trading in falling wedge pattern (shown with black dotted lines). In above chart one can see that though banknifty broken the falling wedge pattern on down side by making lows but always closed the week near support line of wedge. Now in coming week   Wedge support and resistance comes around 8980 and 10300-10350 . Breaking of the Falling Wedge on upside will be bullish reversal followed by positive crossover by stochastic and MACD indicator . Next w eek our   weekly Agni and JBNSAR levels   are   9120  and  9480   respectively. On 5th Sep 201 3 our Weekly JBNSAR system given long signal @9450 and part booking is advised near 9800-10000 zone (gain of 400-500+ points) and balance shall be held till Weekly JBNSAR reverses. Our Previous  Weekly JBNSAR  system given Sell signal below  @11525  on 16th july 2013 (open gap down @ 11459)   and the same is reve...

(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.

(BANKNIFTY : WEEKLY CHART) Banknifty has broken the rising channel and right now it is trading in a falling wedge pattern . For coming week wedge support comes around 10800 and resistance around 11640 .  In above chart One can see one interesting observation related to relation of Wedge pattern,MACD and Stochastic indicators .