Market Trend Lab

SELL 1 LOT OF UNIONBANK @ 205.65 AND BUY 1 LOT OF VIJAYA BANK @ 56.85.... CURRENT PRICE RATIO : 3.617 TARGET RATIO : 3.40-3.45 STOP LOSS RATIO: 3.75

IMPORTANT POINTS FOR TRADING Now above 11420 it can rally upto 11550 and than next hurdle will be 11710 . And on downside below 11380 it has a three important support that is Banknifty previous top / high of the year  11226  than channel support  11170  and than neckline of inverse head and shoulder pattern  11125 . Now CONJBNSAR is  11474 for 12th oct 2012 . If it triggers than buy signal will be generated.

Pair Trade of SBI_Albk is in profit of 4000+..........!!!!!!!!! On 9th oct 2012 ,SBI FUTURE SOLD @ 2278 LOT SIZE 125 NOW  CMP @ 2212 i.e. in profit of 8306 and ALBK FUTURE BOUGHT @ 141.35 LOT SIZE 2000 NOW CMP @ 139.35 i.e. in loss of 4000.... thereby pair is in net profit of 4306.......Right now price ratio is 15.90 ...  *** Pair trading dairy one can see under 'Banking stocks' tab above *****

IMPORTANT POINTS FOR TRADING Banknifty is consolidating and is in 'sell on rise' mode. Now on downside it has a three important support that is Banknifty previous top / high of the year  11226 than channel support 11170 and than neckline of inverse head and shoulder pattern  11125 .  Immediate resistance will be  11380-11430  zone. Now CONJBNSAR is 11488 for 11th oct 2012  and from today no filtration  on CONJBNSAR Value. Yesterday One lot of banknifty booked with 100 points gain and 2nd lot is on hold till CONJBNSAR reversal signal.

CONJBNSASR triggered short signal on 8th oct 2012 @11418 ... Now b ook one lot of BANKNIFTY short near or below  11320. ..(Low made till now  11271 )  thereby given a gain of 100+  points......  *** Hold 2nd lot till the CONJBNSAR gives reversal signal****

IMPORTANT POINTS FOR TRADING Yesterday banknifty made a doji candlestick pattern which indicates indecision between bulls and bears.  Doji's are often found during periods of resting after a significant move higher or lower; the market, after resting, then continues on its way.  Now immediate resistance will be  11530-11550  zone. On downside it has a support around  11240-11265 zone.  Banknifty is highly overbought in daily chart. It is consolidating and is in 'sell on rise' mode.