Market Trend Lab

(Banknifty Weekly Chart) Banknity is trading in side ways from last three weeks in the range of 10800 to 11250. It  has broken the  rising wedge pattern and MACD  yet to give negative cross over and if it does than it will bring more weakness in coming days. Banknifty below 10970 level will be weak. On upside immediate resistance around  11085 and than 11200  and on downside immediate support around  10830--10880  below which it will slip upto 10400 level. In coming week one has to watch for MACD corss over and RBI 3rd Quarter Monetary policy review on 28th Jan 2014  which will bring high volatility. ================================================= TO LEARN THE JBNSAR TECHNIQUE OR  TO SUBSCRIBE CONTACT US : http://justbanknifty.blogspot.in/p/contact_19.html TRADE LESS TRADE SMART

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Above is banknifty daily chart with Bollinger Band indicator which shows resistance around 11185  and above that resistance near 11250 Above chart shows banknifty has made Head and Shoulder Pattern and neckline of which also broken down which indicates deeper correction towards 10000 level in short term to medium term. One can also see small triangle (shown with red lines) in above chart , which shows resistance around 11250 and rising support around 11150 below which banknifty will be weak and may slip upto 10900 Above chart shows Banknifty is trading in Falling wedge Pattern and facing selling pressure near the resistance line of Wedge, 50DMA & 200DMA and may slip towards support line of wedge and 100DMA near 10700 . NOTE : Banknifty is facing multiple strong resistance on upside from 11150 to 11250 zone and on downside it is having good support zone of 10950 to 11050 . Hence, it will be range bound from 10950 to 11250 and major trend w...

(Banknifty Daily Chart) Banknifty in daily chart formed a head and shoulder pattern and broken down the neckline and now trading in falling wedge pattern. On upside One has to watch the line of resistance : 200DMA @ 11150 , 50DMA @11185 & Falling Wedge resistance around 11200.

(Banknifty : Weekly Chart) Banknifty has broken the rising wedge pattern and MACD yet to give negative cross over. On upside it is having resistance around 11300-11400 zone and on downside immediate support around 11050 .. This week one has to watch very critical support of 100 Week Moving Average around 11050 and below which it can slip upto 10800-10750 level. ================================================= TO LEARN THE JBNSAR TECHNIQUE OR  TO SUBSCRIBE CONTACT US : http://justbanknifty.blogspot.in/p/contact_19.html TRADE LESS TRADE SMART

(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.