Market Trend Lab

(BANKNIFTY WEEKLY CHART) As indicated in earlier post banknifty rallied towards 19000 and made a high of 19166 . Banknifty is trading in 'Rising Wedge' in weekly timeframe and today it made the low (18388) near its support line. MACD yet to give negative cross-over.   Banknifty below 18400 will slip to 18100--18000 . On upside immediate resistance is 18670--18735 . Breaking down of wedge will target 17500--17300 . ********** NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:  http://justbankniftystock.blogspot.in **********   THOUGHT OF THE DAY: "WINNING IS NOT EVERYTHING, BUT THE EFFORT TO WIN IS.." : ZIG ZIGLAR  

(BANKNIFTY DAILY CHART) Banknifty is range bound and Support level of 18400-18500   is crucial to sustain for any rally towards 18900-19000 . Yesterday too banknifty bounced from support level of 18400 . (BANKNIFTY WEEKLY CHART) In above weekly chart one can see RSI still in bullish zone and there is no sign of weakness too. Weekly MACD is trading in narrow rising wedge but still not given any negative crossover. ********** NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:  http://justbankniftystock.blogspot.in   **********   THOUGHT OF THE DAY:   "PERFORMANCE IS THE BEST WAY TO  SHUT PEOPLE UP.."  : MARCUS LEMONIS

(BANKNIFTY DAILY CHART) Banknifty had broken Rising Wedge after MACD got resisted near the resistance trend line and made low near 17502 . If MACD gives positive crossover than banknifty will rally to 18900-19000.. Banknifty sustaining above  18500 can move to 18800--18950 whereas below 18500 will slip to 18400 support level and breaking down of 18400 will take it to 18100 in panic.. In day time frame banknifty is in range bound mode. NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE :   http://justbankniftystock.blogspot.in/

(BANKNIFTY DAILY CHART) In our last post we had given alert at higher level as banknifty was trading in Rising Wedge and MACD was near the resistance line. In above updated daily chart one can see that banknifty has broken the Rising Wedge and also MACD has given negative crossover near resistance line and till date it has made low near 18183 . Banknifty below 18400 can slip to 18270--18225 and below this level too it has support near 18050 . In day time frame banknifty is in 'sell on rise' mode. NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE :   http://justbankniftystock.blogspot.in/

(BANKNIFTY WEEKLY CHART) (BANKNIFTY DAILY CHART) In Daily Chart one can see banknifty is trading in Rising Wedge and MACD is near the resistance line which suggest cautious approach at higher level. Whereas there is no weakness in weekly chart and it is still in buy on dip mode. On upside banknifty is having resistance near 18735--18800 and on downside support near 18400 below which it can slip to 18100---18000. One can see that MACD respects its trend line so one can wait for negative crossover in daily chart to spot weakness in trend. NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:   http://justbankniftystock.blogspot.in/

(BANKNIFTY WEEKLY CHART) In above Banknifty Weekly chart, one can see how MACD respects its trendline and offered great opportunity to trade. It signals that every dip is buying opportunity till the trendline is not broken down. Recently it has activated buy mode when banknifty price decisively moved above the long term trendline (shown in black) around 17000-17100 with the positive crossover just above the longterm MACD trendline (shown in green) and till date made high of 17676. Before this MACD tendline (shown in green) given buy singal around 11900-12000 when it has given positive crossover just above the trendline. Now on downside it has support around 16800 and on upside resistance near 17790----17860 NOTE:   FOR PAIR TRADING VISIT:   http://justbankniftystock.blogspot.in/

(BANKNIFTY DAILY CHART) In above Banknifty Day chart, one can see how MACD respects its trendline and offered great opportunity to trade.  Recently it has activated buy mode around 15480-15525 by giving positive crossover near the support of trendline.  Now on downside it has support around 15450--15200 and on upside resistance near 16200 NOTE:   FOR PAIR TRADING VISIT:   http://justbankniftystock.blogspot.in/