IMPORTANT POINTS FOR TRADING
- In Daily chart another Flag Pattern is developing and ADX indicator is about to give a strong signal for current trend.
- On downside immediate support is 12230-12270 zone and below that 12100 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 two inverse head and shoulder pattern of which target is 12500 and in long term it targets 14500. For detail analysis one can read a post link given below: http://justbanknifty.blogspot.in/2012/12/banknifty-monthly-and-weekly-analysis.html
- On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..
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