Market Trend Lab

Today Banknifty exactly resisted at 10130  as indicated in the morning note and also slipped upto  9948.70  after crossing down Daily JBNSAR of  10077 ... there by given a gain of  100+  pointssssssss....

IMPORTANT POINTS FOR TRADING Banknifty closed below  100 DEMA. Now major support comes around  9950-80  and breaking of which will take to  9795 . On upside resistance  comes around  10090-130. Banknifty will be weak if it stays below weekly agni level and JBNSAR  10342-10357. Banknifty is in oversold position in Daily and hourly chart & might give small rally. NOTE :   VERY SOON INCORPORATE A STRATEGY FOR CONSERVATIVE TRADE FOR THE ONE  WHO DONT WANT TO TRADE INTRADAY BUT TO HOLD FOR A SHORT PERIOD.

IMPORTANT POINTS FOR TRADING Banknifty has broken down from triangle pattern of 300+ points may target  10100-10000 and  yesterday made a low of  9998.10 . Banknifty closed below  100 DEMA & 200DEMA. Now major support comes around  9980  and breaking of which will take to  9795 . On upside resistance  comes around  10180. Banknifty will be weak if it stays below weekly agni level and JBNSAR  10342-10357. Banknifty is in oversold position in Daily and hourly chart and also expecting high volatility today because of august expiry. NOTE :   VERY SOON INCORPORATE A STRATEGY FOR CONSERVATIVE TRADE FOR THE ONE  WHO DONT WANT TO TRADE INTRADAY BUT TO HOLD FOR A SHORT PERIOD.

IMPORTANT POINTS FOR TRADING Banknifty has broken down from triangle pattern of 300+ points may target  10100-10000 and yesterday made a low of 10022 . Banknifty closed below 100 DEMA & 200DEMA . Now major support comes around 9980 and breaking of which will take to 9795 . On upside resistance  comes around  10180. Banknifty will be weak if it stays below weekly agni level and JBNSAR  10342-10357. NOTE : VERY SOON INCORPORATE A STRATEGY FOR CONSERVATIVE TRADE FOR THE ONE  WHO DONT WANT TO TRADE INTRADAY BUT TO HOLD FOR A SHORT PERIOD.

IMPORTANT POINTS FOR TRADING Banknifty has broken down from triangle pattern of 300+ points may target  10100-10000 . Now  10420-450  will act as strong  resistance. On downside support comes around  10228. Banknifty will be weak if it stays below weekly agni level and JBNSAR  10342-10357. Now one can apply sell on rise strategy. In daily chart , inverse head and shoulder pattern is developing.

IMPORTANT POINTS FOR TRADING At present banknifty is trading in a triangle pattern  10390-10480  breaking either side of it will decide the future trend. Above  10480  next resistance comes around  10530-560  and sustaining above which it can rally upto  10640 . On downside it has good support around  10340-10385. Banknifty will be weak below  10308  and can slide upto  10190-10235. In daily chart , inverse head and shoulder pattern is developing.

Today Daily Agni level and JBNSAR level are  10453 & 10446  respectively... very much near to each other... So today watch closely above level....