IMPORTANT POINTS FOR TRADING
- One can see Flag pattern inside Rising Wedge Pattern. Hence, it may be possible that banknifty may continue its uptrend inside the wedge. In wedge pattern one may trade with its support and resistance line which is shown with red line in above chart.Rising wedge resistance comes around 12620-12630.
- MACD yet not given any sell signal.
- On upside immediate resistance will be around 12570-12630.
- On downside immediate support comes around 12370-12400 and below that 12250.
- On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..
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