Friday, January 16, 2015

Banknifty Daily Update : immediate resistance near 19400-19500

(BANKNIFTY DAILY CHART)

In our last post on weekly update we indicated that banknifty is trading well within the wedge and  boldly written that Daily MACD is near the support line and which likely to give bounce towards 19000-19100 and having strong support at 18500-18400 level.

This week it  took the support near 18500 and made the high of  19410 till date.,

Now on upside its having resistance near 19400-19500 and sustaining above this zone will open the door for 19800-20000 level in short term. Whereas on downside immediate support is around 19030-18910.

Still there is no weakness in banknifty in daily as well as weekly timeframe.
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THOUGHT OF THE DAY:

"The more difficult the victory,
The greater the happiness in winning.."
:Pele

Tuesday, January 13, 2015

BANKNIFTY WEEKLY UPDATE : trading well within the wedge...

(BANKNIFTY WEEKLY CHART)

In above weekly chart, banknifty is trading in 'Rising Wedge' and  hence, one has to be a cautious at higher level. Weekly MACD yet not given a negative crossover nor price broken down the wedge.


(BANKNIFTY DAILY CHART)

In Daily chart, MACD is near the support line which likely to give some bounce. 18400-18500 is a strong support level and above which it can move towards 19000-19100.
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NOTE: FOR PAIR TRADING VISIT OUR SEPARATE SITE: 
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THOUGHT OF THE DAY:

"You were born to win, but to be a winner,
you must plan to win, prepare to win
and expect to win" : ZIG ZIGLAR

Wednesday, January 7, 2015

Banknifty Weekly Update: Will it break down the rising wedge ??

(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.
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NOTE: FOR PAIR TRADING VISIT OUR SEPARATE SITE: 
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THOUGHT OF THE DAY:
"WINNING IS NOT EVERYTHING, BUT THE EFFORT TO WIN IS.." : ZIG ZIGLAR
 

Wednesday, December 31, 2014

BANKNIFTY above 18400-18500 will rally towards 18900-19000..!!

(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.

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NOTE: FOR PAIR TRADING VISIT OUR SEPARATE SITE: 
 
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THOUGHT OF THE DAY:
 
"PERFORMANCE IS THE BEST WAY TO  SHUT PEOPLE UP.." 
: MARCUS LEMONIS

Monday, December 29, 2014

BANKNIFTY 18400-18500 level is crucial to sustain..!! above this will rally towards 18950..

(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/