Market Trend Lab

(BANKNIFTY WEEKLY CHART) In our Weekly post given on 11th may 2013 , we have written two things: one that crossing of 12960 (shown in black lines in above chart) will open the doors for 13300 and secondly that our weekly Agni/JBNSAR Levels also suggest that above 12490 banknifty will be strong and try to move towards 13300 .  One can see the post : http://justbanknifty.blogspot.in/2013/05/banknifty-weekly-view-and-triangle.html For this week our weekly Agni and JBNSAR LEVELS are 13285 and 12490. and yesterday banknifty made high of 13281.80. Now its a time to be cautious at higher level i.e. around 13300. Banknifty made high of 13303.60 on 5th Nov 2010 and after that this is the first time it is trying to climb that too. Sustaining above 13285-13305 will take to 13650-13700 levels. Else it may slip to 13100-13000 level (BANKNIFTY DAILY CHART) In Daily chart, Banknifty was trading in flag pattern (which is consider as continuation patter...

WE HAVE GIVEN STRATEGY FOR PNB AND ALBK BANK ON  15TH MAY 2013  AS: SELL PNB FUTURE @821 BUY ALBK FUTURE @126.30 TODAY  WE BOOKED PROFIT AS: PNB FUTURE @825 ALBK FUTURE @128.85 BOOKED PROFIT :  INR 3100 ============================== For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

IMPORTANT POINTS FOR TRADING Banknifty is trading in a flag pattern (which is consider as continuation pattern) within the channel and MACD yet not given clear negative signal.   For more detail on 'Flag Pattern ' one can go to following link :  http://justbanknifty.blogspot.in/2012/03/flag-pattern-banknifty-daily-chart.html#more It is having a resistance around  12670-12705  and Support around  12490.  It will be weak only below weekly JBNSAR level of  12490.  (Weekly JBNSAR given Long signal  @11371 ) On right side of blog,  Daily and weekly Agni/JBNSAR levels   are mentioned they act as important support/ resistance levels..

IMPORTANT POINTS FOR TRADING Banknifty is trading in a flag pattern within the channel and MACD yet not given negative signal. It is having a resistance around 12650-12725  and Support around 12490. It will be weak only below weekly JBNSAR level of  12490.  (Weekly JBNSAR given Long signal  @11371 ) On right side of blog,  Daily and weekly Agni/JBNSAR levels   are mentioned they act as important support/ resistance levels..

WE HAVE GIVEN STRATEGY FOR ALBK AND IDBI ON  9TH MAY 2013  AS: SELL IDBI FUTURE @88 BUY ALBK FUTURE @123.10 TODAY  WE BOOKED PROFIT AS: IDBI FUTURE @87.45 ALBK FUTURE @124 BOOKED PROFIT :  INR 4000 OUR BRAVE HEARTS BOOKED PROFIT AS: IDBI FUTURE @86.6 ALBK FUTURE @122.9 BOOKED PROFIT :  INR 5200 STATUS: CALL IS CLOSED ================================== WE HAVE GIVEN STRATEGY FOR ALBK AND VIJAYA BANK ON 10TH MAY 2013  AS: SELL VIJAYA FUTURE @53 BUY ALBK FUTURE @122.90 TODAY  WE BOOKED PROFIT AS: VIJAYA FUTURE @52.7 ALBK FUTURE @123.75 BOOKED PROFIT :  INR 2900 OUR BRAVE HEARTS BOOKED PROFIT AS: VIJAYA FUTURE @51.70 ALBK FUTURE @122.9 BOOKED PROFIT :  INR 5200 STATUS: CALL IS CLOSED ============================== For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

(Banknifty Weekly Chart) After breaking the falling wedge on upside, Banknifty came back into the  'Rising Channel'  and than it was on fire. Now one can see in above weekly chart one big triangle formation (shown with black lines) of which resistance comes around 12960 and breaking of  which will open doors for 13300 levels Our  Weekly JBNSAR / Agni level also  suggest that above 12490 Banknifty will be strong and will try to move towards 13300 level.   Whereas below 12450 it will be weak and fall upto 12150---11800 Our  Weekly JBNSAR  generated long signal  @ 11371 .  On right side of our blog,  Daily and weekly Agni/JBNSAR levels   are mentioned they act as important support/ resistance levels..

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