Market Trend Lab

IMPORTANT POINTS FOR TRADING In daily chart Banknifty has made inverse head and shoulder pattern and also broken the neck line which gives target of 12500 in medium term. Now immediate resistance will be  11750 and thereafter 11820-11855  zone. On downside it has a support around  11460-11480 zone . Banknifty is highly overbought in daily chart but no weakness in trend. Now CONJBNSAR is  11408 for 5th oct 2012    and if banknifty breaks the same than only trend will be reversed else the uptrend will continue.

IMPORTANT POINTS FOR TRADING Banknifty is finding difficulty in crossing the hurdle of 11550 from past 7 trading sessions and if sustains above 11550 than it can rally upto  11750. Now immediate resistance will be 11470-11492 zone. on downside it has a support around  11350-11370 zone  below which it will be weak. Banknifty is highly overbought in daily chart but no weakness in trend. Now CONJBNSAR is  11340 for 4th oct 2012    and if banknifty breaks the same than short siganal will be generated.  

IMPORTANT POINTS FOR TRADING Banknifty is finding difficulty in crossing the hurdle of 11550    and if sustains above 11550 than it can rally upto  11750 . on downside it has a support around  11320  below which it will be weak. Banknifty is highly overbought in daily chart but no weakness in trend. Now CONJBNSAR is  11306 for 3rd oct 2012    and if banknifty breaks the same than short siganal will be generated.  

IMPORTANT POINTS FOR TRADING Now upside resistance comes around  11550    and above which it can rally upto  11750 . on downside it has a support around  11230-11280 zone . Banknifty is highly overbought in daily chart but no weakness in trend. CONJBNSAR triggered a buy signal at  10075 on 11th sep 2012    and till date a gain of  1200+ points. CONJBNSAR trade stop and reverse point for today  is 10918 . 

IMPORTANT POINTS FOR TRADING Now upside resistance comes around  11550  and above which it can rally upto 11750. on downside it has a support around  11045-11075 zone . Banknifty is highly overbought in daily chart but no weakness in trend. CONJBNSAR triggered a buy signal at  10075 on 11th sep 2012  and till date a gain of 1200+ points.

IMPORTANT POINTS FOR TRADING Above  11065  immediate resistance  comes around  11130 and there after 11226. on downside it has a support around 10800 and than 10675 . Banknifty is highly overbought in daily chart but no weakness in trend. CONJBNSAR triggered a buy signal at  10075 on 11th sep 2012 .