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 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 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 WEEKLY CHART) (BANKNIFTY DAILY CHART) In Daily Chart one can see banknifty is trading in Rising Wedge and MACD is near the resistance line which suggest cautious approach at higher level. Whereas there is no weakness in weekly chart and it is still in buy on dip mode. On upside banknifty is having resistance near 18735--18800 and on downside support near 18400 below which it can slip to 18100---18000. One can see that MACD respects its trend line so one can wait for negative crossover in daily chart to spot weakness in trend. NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:   http://justbankniftystock.blogspot.in/

(BANKNIFTY WEEKLY CHART) In above Banknifty Weekly chart, one can see how MACD respects its trendline and offered great opportunity to trade. It signals that every dip is buying opportunity till the trendline is not broken down. Recently it has activated buy mode when banknifty price decisively moved above the long term trendline (shown in black) around 17000-17100 with the positive crossover just above the longterm MACD trendline (shown in green) and till date made high of 17676. Before this MACD tendline (shown in green) given buy singal around 11900-12000 when it has given positive crossover just above the trendline. Now on downside it has support around 16800 and on upside resistance near 17790----17860 NOTE:   FOR PAIR TRADING VISIT:   http://justbankniftystock.blogspot.in/

(BANKNIFTY WEEKLY CHART) In above weekly chart, one can see banknifty has made  'Bearish Butterfly Pattern" . This pattern gives target range of  level  14800 to 16500.  It has made high of  15742  till date and faced  strong resistance and selling pressure near  15550-15750 . Weekly MACD has given negative crossover. Upside resistance 15150 and 15500 . Downside support near 14700 and 14300 . here, the CD leg extends towards a 1.272 to 1.618  Fibonacci  extension of the XA leg. Note, that Fibonacci extension can  even be as far as 2.618 - but beyond that then the pattern is invalid. NOTE:   FOR PAIR TRADING VISIT:   http://justbankniftystock.blogspot.in/

(BANKNIFTY WEEKLY CHART) Banknifty after crossing the hurdle of 13400 made a high of 15742 and after this bull run its resting from last one month by trading in broad range of 14700--15600 levels. Now on downside it has made a good support around 14700 and above this level doors are open for 16000-16200 level. There is no weakness in trend. Note : U nion Budget 2014 is believed to be the next big trigger for Indian indices, which have been rallying for quite sometime now, is just around the corner. Market participants, locally and globally are closely watching team Modi’s maiden Budget scheduled on July 10.   NOTE:   FOR PAIR TRADING VISIT:   http://justbankniftystock.blogspot.in/

(BANKNIFTY WEEKLY CHART) On 15th April 2014, we indicated about breakout from inverse H&S pattern will target above 15000. http://justbanknifty.blogspot.in/2014/04/banknifty-weekly-update-slowly-and.html Now on downside support is near 14500 and upside immediate resistance is 15050 and 15400 . Its time to be cautious on higher level as it is trading at upper bollinger band. NOTE :  FOR PAIR TRADING VISIT :  http://justbankniftystock.blogspot.in/

(BANKNIFTY WEEKLY CHART) Banknifty has broken out a triangle pattern and trading in a broad range of 12500-13000.  It is slowly and steadily breaking all the hurdles and moving higher. Still there is no weakness in trend. It is having hurdle near 13000 above which it can move to 13400 level Whereas on downside it is having support near 12550 and breaking of which it will slip to 12350-12250. (Banknifty Inverse H & S pattern) Banknifty has already given breakout from inverse H& S pattern which gives target above 15000 in short term to medium term. NOTE:   1.   For stock ideas visit :   http://justbankniftystock.blogspot.in/

(BANKNIFTY WEEKLY CHART) MACD  Positive crossover with  triangle pattern  (Shown with blue line)  breakout given a rally upto 12869 (till now). In earlier post we indicated about  'Bearish Gartley Pattern' of which CD will target 12800-13200 and it made high of 12869 and started correction , till now made low of 12430 . http://justbanknifty.blogspot.in/2014/03/banknifty-weekly-update-heading-to.html Now banknifty is in 'sell on rise' mode. Below 12480 it will be weak and may slip to   12250--12200 . on upside immediate resistance is 12635--12690.  Banknifty will have strength only above 12850-12870. NOTE:  1.   For stock ideas visit :  http://justbankniftystock.blogspot.in/

(Banknifty Weekly chart) Banknifty after a breakout from a  triangle pattern  (Shown with blue line) and Positive crossover by  MACD   given a rally upto 12788 (till now). In earlier post we indicated about 'Bearish Gartley Pattern'  with target of  12800-13200 . Though triangle pattern breakout gives much higher target if sustains above 13400. On downside banknifty is having support near  12500  and below which it will slip to 12200 and  on upside resistance near  12850  and above which it may rally towards 13000+ level. NOTE:  1. RBI policy to be announced on 1st April 2014 i.e. on fool's day. expect market to be highly volatile.  2.  For stock ideas visit :  http://justbankniftystock.blogspot.in/

(BANKNIFTY WEEKLY CHART) Banknifty after a breakout from a  triangle pattern  (Shown with blue line) and Positive crossover by  MACD  going strong and heading to make new high. It seems that it is making 'Bearish Gartley Pattern' of which 'XA', 'AB' & 'BC' done and now it is in process to make 'CD' which take it to 12800-13200 . On downside banknifty is having support near 11800-12000 and on upside resistance near 12500 . Definition of 'Gartley Pattern': The above Gartley example shows an uptrend XA with a price reversal at A. Using Fibonacci ratios, the retracement AB should be 61.8% of the price range A minus X, as shown by line XB. At B, the price reverses again. Ideally, retracement BC should be between 61.8% and 78.6% of the AB price range, not the length of the lines, and is shown along the line AC. At C, the price again reverses with retracement CD between 127% and 161.8% of the range BC and is shown along the line...

(Banknifty Weekly Chart) Banknifty has given a breakout from a  triangle pattern  (Shown with blue line) and   MACD  also  given a positive cross over in above weekly chart.  After giving a big run up from 9945 to 12300 , it is trading in sideline between 12300-11800. This week on downside important support comes around  11700  and  11500 . and on upside immediate resistance will be  12350  and sustaining above this will move to  12500 .

(BANKNIFTY WEEKLY CHART) Banknifty has given a breakout from a triangle pattern (Shown with blue line) and also MACD given a positive cross over.  It is to be noted that MACD postive crossover is still below zero line and it will be more bullish as soon as it crosses this line. This week on downside important support comes around 11700 and 11500 . and on upside immediate resistance will be 12000 and sustaining above this will move to 12200--12500 zone. This week expected to be highly volatile and some pull back also as Banknifty is highly overbought in day timeframe and key macro data is also going to be announced this week. NOTE :  1.)  THIS WEEK MACRO DATA WILL BE DECLARED : IIP AND CPI NUMBERS ON WEDNESDAY, WPI ON FRIDAY.  2) U.S. ON THURSDAY WILL BE ANNOUNCING THE KEY RETAIL SALES DATA. 

(BANKNIFTY WEEKLY CHART) Banknifty is trading in downward channel and in weekly chart, MACD cross over dragged it to lower level of 9944 . Now on upside resistance is 10500-10580 zone and on downside support is 9900-9950 and below this level it may slip to 9500 . Banknifty is weak below 10430 level. For stock ideas visit:   http://justbankniftystock.blogspot.in/

In Last week update indicated about MACD crossover will bring more weakness and post trigger  banknifty slip to 10101 level and still no strength.  To Read:  http://justbanknifty.blogspot.in/2014/01/banknifty-weekly-update-rising-wedge.html In Daily update on 17th Jan 2014 indicated about break of Head and Shoulder pattern in day time frame will bring deeper correction towards 10000 level and the target achieved. To Read: http://justbanknifty.blogspot.in/2014/01/banknifty-daily-update-multiple.html On upside strong resistance around 10650-10750 zone and further weakness will continue only below 10000 level and if breaks than may slip to 9800--9600 level.

(Banknifty Weekly Chart) Banknity is trading in side ways from last three weeks in the range of 10800 to 11250. It  has broken the  rising wedge pattern and MACD  yet to give negative cross over and if it does than it will bring more weakness in coming days. Banknifty below 10970 level will be weak. On upside immediate resistance around  11085 and than 11200  and on downside immediate support around  10830--10880  below which it will slip upto 10400 level. In coming week one has to watch for MACD corss over and RBI 3rd Quarter Monetary policy review on 28th Jan 2014  which will bring high volatility. ================================================= TO LEARN THE JBNSAR TECHNIQUE OR  TO SUBSCRIBE CONTACT US : http://justbanknifty.blogspot.in/p/contact_19.html TRADE LESS TRADE SMART