Saturday, August 9, 2014

BANKNIFTY WEEKLY UPDATE: Bearish Butterfly Pattern..




(BANKNIFTY WEEKLY CHART)

In above weekly chart, one can see banknifty has made 'Bearish Butterfly Pattern". This pattern gives target range of  level 14800 to 16500. It has made high of 15742 till date and faced  strong resistance and selling pressure near 15550-15750.

Weekly MACD has given negative crossover. Upside resistance 15150 and 15500. Downside support near 14700 and 14300.


here, the CD leg extends towards a 1.272 to 1.618 Fibonacci extension of the XA leg. Note, that Fibonacci extension can even be as far as 2.618 - but beyond that then the pattern is invalid.

NOTE: FOR PAIR TRADING VISIT: http://justbankniftystock.blogspot.in/

Saturday, July 5, 2014

Banknifty Weekly update: Will Union Budget 2014 give rally towards 16000++ level..??????

(BANKNIFTY WEEKLY CHART)

Banknifty after crossing the hurdle of 13400 made a high of 15742 and after this bull run its resting from last one month by trading in broad range of 14700--15600 levels.

Now on downside it has made a good support around 14700 and above this level doors are open for 16000-16200 level. There is no weakness in trend.

Note : Union Budget 2014 is believed to be the next big trigger for Indian indices, which have been rallying for quite sometime now, is just around the corner. Market participants, locally and globally are closely watching team Modi’s maiden Budget scheduled on July 10. 


NOTE: FOR PAIR TRADING VISIT: http://justbankniftystock.blogspot.in/

Friday, May 30, 2014

BANKNIFTY WEEKLY UPDATE : BUTTERFLY PATTERN..!!!

(BANKNIFTY WEEKLY CHART)

In above weekly chart, one can see banknifty has made 'Bearish Butterfly Pattern". This pattern gives target range of  level 14800 to 16500. It has made high of 15742 till date.  It is also facing long term trend line resistance near 15650-15700.

It will have strength only above 15700 to move towards 16500....21000 level too "if we really approach the good days ahead"... On downside it has good support around 14700-14500.


BEARISH BUTTERFLY PATTERN:

 

here, the CD leg extends towards a 1.272 to 1.618 Fibonacci extension of the XA leg. Note, that Fibonacci extension can even be as far as 2.618 - but beyond that then the pattern is invalid.

NOTE: FOR PAIR TRADING VISIT: http://justbankniftystock.blogspot.in/

Thursday, May 22, 2014

Banknifty weekly update: upside hurdles 15050 and 15400..

(BANKNIFTY WEEKLY CHART)

On 15th April 2014, we indicated about breakout from inverse H&S pattern will target above 15000.


Now on downside support is near 14500 and upside immediate resistance is 15050 and 15400.

Its time to be cautious on higher level as it is trading at upper bollinger band.

NOTE : 

FOR PAIR TRADING VISIT http://justbankniftystock.blogspot.in/

Friday, May 16, 2014

CONGRATULATION TO BJP AND Mr. MODI...!!!

CONGRATULATION TO BJP AND
 MR. NARENDRA MODI (CM OF GUJARAT)

India has won! We're approaching the good days... 

lets enjoy some of the best quotes....