Market Trend Lab

Now a days there is too much fluctuation and noise in stock market and hence it becomes difficult to predict the market accurately every time. To survive here one has to trade smart. Smart Trader trades for consistent profit and its very important for survival. For consistent profit one must have strategy. Strategy that gives the acceptable level of confidence. Among the many, One of the strategy is 'Pair Trading'.

(WEEKLY CHART) This week banknifty after crossing the hurldle of Weekly Agni level of 11610   made a high of 12219  and managed to close in green  @12197.25.  It has broken down the  'Rising wedge pattern'  and made a low of   11401 and took the support near the 'Rising channel' and bounced back. For next week channel support is near 11300 and 78.6% retracement of fall from 13303 to 7766 is around 12115 . Next Week banknifty sustaining above 12000 will move towards 12450 and than 12700 else will fall upto 11700 . Note that stochastic and MACD yet to give positive signal in week timeframe and if so done in one or two week than we expect one more bull rally towards 13000 in short term. For long term view one can refer following link  which is valid till the rising channel support in not broken.   : http://justbanknifty.blogspot.in/2012/12/banknifty-monthly-and-weekly-analysis.html

IMPORTANT POINTS FOR TRADING Banknifty bounced back after highly oversold in daily chart. Stochastic shows some positive diversion in above chart(shown with yellow arrow). MACD yet to give positive signal. Banknifty Sustaining above Weekly Agni level  11610   will move towards  12060----12115 .  On upside Banknifty immediate resistance is around  12060-12115 zone  and on downside immediate support is  11760-11800 zone . On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..

(Save Nature,Save birds) Today we have given strategy for Union Bank and Vijaya Bank  pair as: To view the pair strategy enter password : uv2013 =================================== There is no need to trade everyday... 'Trade Less Trade Smart' WITH JUST BANKNIFTY

IMPORTANT POINTS FOR TRADING Banknifty bounced back after highly oversold in daily chart. Stochastic shows some positive diversion in above chart(shown with yellow arrow). Banknifty Sustaining above Weekly Agni level  11610   will move towards  12060-12100 .  On upside Banknifty immediate resistance is around  11950  and on downside immediate support is  11700 . On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..

(Save Nature,Save birds) Today morning we have given strategy for unionbank and idbi bank pair as: Sell Union bank Future @229 Buy IDBI bank future @91 We booked profit today itself as: Union bank future @228.60 Idbi bank future @91.75 Booked Profit : INR 3800 Our brave heart booked profit as: union bank future @ 228.70 IDBI bank future @92.05 Booked Profit : INR 4800 =================================== There is no need to trade everyday... 'Trade Less Trade Smart' WITH JUST BANKNIFTY

IMPORTANT POINTS FOR TRADING Banknifty bounced back after highly oversold in daily chart. Banknifty Sustaining above Weekly Agni level 11610 will move towards 12060-12100 .  On upside Banknifty immediate resistance is around  11950  and on downside immediate support is  11600 . On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..