IMPORTANT POINTS FOR TRADING
- Banknifty is overbought in daily chart and hence it is just resting. Further upmove is possible if it holds 12300. STILL THERE IS NO WEAKNESS IN TREND.
- On downside immediate support is 12330-12360 zone and below that 12200 is another good support for banknifty.
- On upside immediate resistance will be around 12540-12580 zone and above that it can move towards 12700.
- In Weekly chart banknifty has made inverse head and shoulder pattern of which target is 12500. For detail analysis one can read a post link given below: http://justbanknifty.blogspot.in/2012/12/banknifty-monthly-and-weekly-analysis.html
- Trailing stop loss for 2nd lot (bought @12200) of banknifty is 12320 now.
- On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..
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