Market Trend Lab

In daily chart nifty spot has already made 3 gap up openings and today if opens gap up than it will be 4th gap up... as per gap up strategy trend gets exhausted or  tired after 3 to 4 gap ups... small consolidation is much needed at this point of time for strong uptrend ahead... Nifty spot closed at  7475 yesterday...now support near 7380--7350 and hurdle near 7540--7640. Banknifty closed near 15177... It has minor hurdle near 15220 above which it will rally towards 15560---15800...

Nifty spot is range bound with the hurdle near 7100 and support near 6850..  breaking of either side will give the clear trend.. till than one may trade with levels... Banknifty spot is having minor resistance nesar 13970--14000 above this it can move to 14580 and down side has support near 13450

NIFTY WEEKLY CHART. Nifty has a support near 6880—6980 being  200WSMA and 50MEMA  respectively  and sustaining above this it can move to 7400–7500 level soon. Minor  hurdle 7240...

(Banknifty: weekly chart) In week timeframe, Banknifty MACD has broken down the 'Rising Wedge' with negative cross-over and what a free fall..!!!!!!!!!!!.  Banknifty had found difficulty to sustain above 18500 level. Now on downside two crucial supports to watch are near 17500 level (200DMA) and 17220 (50WMA). Banknifty trend is down and every rise met with selling pressure.  According to weekly JBNSAR banknifty is weak below 18370 .

(BANKNIFTY WEEKLY CHART) In week timeframe , Banknifty MACD has given a negative crossover and also broken down the rising wedge. Whereas banknifty price closed the week within the  channel  (shown with pink color) . Now  channel  support comes around  18500 .  Banknifty is weak and 'sell on rise mode' It will have strength only above 19200 and on downside  it has support near  18500--18200--17900. ************************************* NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:  http://justbankniftystock.blogspot.in **********

(BANKNIFTY WEEKLY CHART) Banknifty in week timeframe is trading well within the  channel  (shown with pink color) made high near the resistance line  20907 . Now  channel  support comes around  18000-17900  .  MACD   has made a rising wedge and now it is near the support line and even the price near the support line of channel..so breaking of same only will make banknifty weak and till than bias is positive. In week timeframe banknifty above  19000   it can move to 19500----19800--20200  where as below 19000 it has support near 18500--18200--17900 ************************************* NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:  http://justbankniftystock.blogspot.in ********** THOUGHT OF THE DAY: "Its better to be UNIQUE than the The BEST, because...  Being The BEST makes you the number one, But..  Being UNIQUE makes you THE ONLY ONE !!"

(BANKNIFTY WEEKLY CHART) Banknifty in week timeframe is trading well within the channel (shown with pink color) made high near the resistance line 20907 . Now channel support comes around 17700 and resistance near 20900 . MACD is about to give negative cross over. In week timeframe banknifty is having strength above 19500 only and on downside support near 18700 below which more panic upto   18200--17700 . ********** NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:  http://justbankniftystock.blogspot.in ********** THOUGHT OF THE DAY: "Its better to be UNIQUE than the The BEST, because...  Being The BEST makes you the number one, But..  Being UNIQUE makes you THE ONLY ONE !!"