Market Trend Lab

(Banknifty Daily Chart) In above Daily chart of banknifty, it has just broken the rising wedge pattern which is the bearish pattern. One can also see  Head and Shoulder pattern and breaking of both pattern suggest deeper correction in banknifty towards 10000 level. 200DMA is around 11150...

(Banknifty Weekly Chart) Banknifty is trading in rising wedge pattern and got sold off from the wedge top around 12150 and  took the support near 100WMA around 11045 . For coming week upside immediate resistance is around 11385-11450 zone and downside its having support around 11140-11180 zone.  It will be weak below 11045 . Rising Wedge pattern is considered as reversal pattern when it is found in uptrend. It will be bearish only when it breaks down the pattern followed by stochastic and MACD indicator. Yet the pattern is not broken.

BANKNIFTY TRADES UPDATE  FOR December MONTH (*level given for spot price) : On 30th Dec 2013 : Buy banknifty  @ 11470 Buy 2 lots of put option of strike price 11000 @140-142 both lot Exited  @11390 (Loss of 160 POINTS) both put option of strike price 11000 booked @180-185 (Gain of 80 POINTS) TOTAL NET GAIN BOOKED IN THIS TRADE : -80 POINTS ================================================= On 26th Dec 2013 : sell  @ 11390 (only one lot) Exited  @11445(27th Dec 2013) (Loss of 55 POINTS) TOTAL NET GAIN BOOKED IN THIS TRADE : -55 POINTS ================================================= On 24th...

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Banknifty got soldoff from ' Rising Wedge' top around 12160-12200 and moving towards the gap around 11108---11469 .  On downside it is having support band around 11150-10950. We have sold banknifty near the top of the ' Rising Wedge ' i.e.  @12145 and our subscribers made good profit in this trade. In December month (till date) we have booked gain of 840+ pointssssss ================================================ HURRY.... TO SUBSCRIBE FOR OUR SPECIAL YEAR END OFFER CONTACT US : http://justbanknifty.blogspot.in/p/contact_19.html TRADE LESS TRADE SMART

SUNPHARMA : (LOT SIZE 500) 12th Dec 2013:  Sell SIGNAL@ 581 . ... made low of 571.60   target given :575- 570 STOPLOSS : 588 PROFIT : Rs.3000+ ====================== RECLTD : (LOT SIZE 1000) 11th Dec 2013:  Sell SIGNAL@ 218--219 . ... made low of 215.25   target given :215 ---213 STOPLOSS : 220 PROFIT : Rs.3000+ ====================== CIPLA : (LOT SIZE 500) 11th Dec 2013:  Sell SIGNAL@ 390 . ... made low of 386.15   target given : 383---385 STOPLOSS : 393 PROFIT : Rs.1750 ====================== TECHM : (LOT SIZE 250) 5th Dec 2013:  Sell SIGNAL@  1677.50. ... made low of 1662 target given : 1650-1630  (tgt achieved on 4th and 5th Dec ) STOPLOSS : 1695 Loss : Rs.4375 =========== INFY : (LOT SIZE 125) 3rd Dec 2013: BUY SIGNAL@ 3354. ... made high of 3399 target given : 3380---3400  (BOTH tgt achieved on 4th and 5th Dec ) STOPLOSS : 3330 ...