Market Trend Lab

(BANKNIFTY WEEKLY CHART) Banknifty is in downtrend in week time frame. It is falling in steep downward channel with   MACD  crossed down. Banknifty has closed exactly at 100 Week EMA i.e.11340 which is one of the important support and another support comes around 61.8% retracement level i.e. 11185 . This two are last hope for bulls to return else there will be panic upto 10700 . On upside channel resistance comes around 11640 and 50 Week Moving Average around 11700. According to our Agni and JBNSAR system , Sustaining above 11300 it may try to move towards 11700---- 11900 whereas below 11300 there will be panic upto 11185---11000---10700.   Our  weekly JBNSAR  given sell signal  @12820  on  30th May 2013  (right now it is in  1400+ point gain ). Part booking was advised near support zone of  11900-12200 . and balance is held with trailing stop loss. On right side of blog,  Daily and weekly Agni/JBN...

Today we have given pair trade call for Relcapital and PFC  as: Buy PFC future @148 Sell Relcapital future @333 Today we booked profit as : Relcapital future @326 PFC future @147 Booked profit :  INR 5000 Our Brave hearts booked profit as: Relcapital future @319 Vijaya bank future @146 Booked profit :  INR 10,000 ============================= For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

We have given pair trade call for TCS and HCLTECH  on 18th june 2013   as: Buy TCS future @1449 Sell HCLTECH future @776 Today we booked profit as : Relcapital future @1420 PFC future @753 Booked profit :  INR 4250 ============================= For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

We have given pair trade call for unionbank and vijayabank on 7th june 2013  as: Buy unionbank future @214 sell vijayabank future @50 we exited from pair cost to cost as : Unionbank future @206.50 (exited on 17th june 2013) Vijaya bank future @48 (exited on 20th june 2013) Booked profit : INR 500 Our Brave hearts booked profit as: Unionbank future @206.50 (exited on 17th june 2013) Vijaya bank future @46.50 (exited on 21st june 2013) Booked profit : INR 6500 ============================= For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

Banknifty is downtrending in day and week timeframe. When trend is strong in higher time frame, it remains in oversold area with steep fall in day time. It is trading in channel. Today Channel support comes around 11250 and than next support comes around 11185. Our  weekly JBNSAR  given sell signal  @12820  on  30th May 2013. On right side of blog,  Daily and weekly Agni/JBNSAR levels   are mentioned they act as important support / resistance levels.. Trading below all this level will be weak...Positional traders should trade with  weekly JBNSAR

Banknifty is downtrending in Week timeframe and hence at every rise gets sell off. It is trading downward in channel.  Today 11895 to 11950 zone will act as strong resistance and staying below this, it will be weak and may slip upto 11655 and than 11450. Our  weekly JBNSAR  given sell signal  @12820  on  30th May 2013. On right side of blog,  Daily and weekly Agni/JBNSAR levels   are mentioned they act as important support / resistance levels.. Positional traders should trade with  weekly JBNSAR

Banknifty is respecting the channel. It will be difficult task for banknifty to climb up as it  has line of strong resistance around 11925-12030-12115-12200 . On downside below 11740 it can slip upto 11650 and than 11500.