Market Trend Lab

(BANKNIFTY WEEKLY CHART) Banknifty is making bearish candle in week timeframe (still 3 days to go). At present Banknifty is trading below all levels except weekly Agni level of 8820 and below this level more panic and it may fall upto 8600.  Above 8820 it will try to move towards 9200 .

This week Bears tried hard to pull down banknifty even below the support line of Falling Wedge but at the end bulls succeeded to close the week in green within the Falling Wedge Pattern . Next week Wedge support comes around 9150-9200 zone and on upside immediate resistance will be @9650 crossing the same will take banknifty to 9900-10070. For coming  Week our   weekly Agni and JBNSAR levels   are   8820  and  9685   respectively. Our  Weekly JBNSAR  system given Sell signal below  @11525  on 16th july 2013 (open gap down @ 11459).  Part booking was advised near  11000  and balance shall be held till it reversed by weekly JBNSAR. Note: To read more on  'Falling Wedge Pattern '  go to following link: http://justbanknifty.blogspot.in/2013/04/banknifty-weekly-analysis-and-fallling.html#more On right side of blog,  Daily and weekly Agni/JBNSAR levels  ...

We have given pair trade call for ICICI BANK and AXISBANK   on 24th Aug 2013 : Buy AXISBANK future @970 Sell ICICIBANK future @862  we booked Profit  on 24th Aug 2013 as : AXISBANK @987  ICICIBANK @852  Booked profit :  INR 6750  Brave hearts booked profit as : AXISBANK @985  ICICIBANK @848  Brave hearts profit  : INR 7250 ============================= For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

We have given pair trade call for Bharti and Idea  on 22nd Aug 2013 as: Buy  Bhartiartl future @300 Sell Idea future @160  we booked Profit  on 22nd Aug 2013 itself as : Bhartiartl @308 Idea @161 Booked profit :  INR 6000  Brave hearts booked profit as : Bhartiartl @315  Idea @162 Brave hearts profit  : INR 11000 ============================= For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

(BANKNIFTY WEEKLY CHART) Banknifty is downtrending in week timeframe with  MACD  crossed down. It is highly oversold. Today in above chart we have shown fibonacci fans  and fibonacci retracement supports and resistance (shown with red dotted lines) and falling wedge pattern (shown with black dotted lines )   Which suggest that banknifty above 9600-9660 zone will move towards 9900-10050 zone whereas below 9600  weakness will be continue and may slip upto 9200-9000 level. To read more on 'Falling Wedge Pattern ' go to following link: http://justbanknifty.blogspot.in/2013/04/banknifty-weekly-analysis-and-fallling.html#more For coming  Week our  weekly Agni and JBNSAR levels   are 8940  and 9940  respectively.

Today We have given pair trade call for kotakbank and Indusind bank  as: Buy  Indusind bank future @376 Sell Kotak bank future @653  we booked Profit  today itself as : Indusind bank @370 Kotak bank@635 Booked profit :  INR 6000  Brave hearts booked profit as : Indusind @355  Kotak @615 Brave hearts profit  : INR 8500 ============================= For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY

Today We have given pair trade call for Bharti and Idea  as: Buy  Bhartiartl future @309 Sell Idea future @166  we booked Profit  today itself as : Bhartiartl @315 Idea @166.50 Booked profit :  INR 5000  Brave hearts booked profit as : Bhartiartl @321  Idea @166.50 Brave hearts profit  : INR 11000 ============================= For Steady Growth of Wealth 'Trade Less Trade Smart' WITH JUST BANKNIFTY