Thursday, December 11, 2014

BANKNIFTY DAILY UPDATE... MACD negative crossover near resistance line..

(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/

Tuesday, December 2, 2014

BANKNIFTY WEEKLY AND DAILY UPDATE WITH MACD ANALYSIS

(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/




Tuesday, November 18, 2014

BANKNIFTY: MACD analysis in week timeframe...

(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/

Friday, August 22, 2014

Banknifty : MACD analysis in day timeframe...

(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/

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/