Market Trend Lab

Banknifty is now in oversold area in daily chart and very much near to a critical point around which it should pause this fall. Presenting two Daily chart... one with Flag Pattern and another with Triangle Pattern.  (Daily Chart : Flag Pattern)

Banknifty below 200DEMA @9987 and 100 DEMA @10010 will be weak and continue its downside movement. Below Agni level of today  9551  it will fall upto 9400 and in panic it may even touch  9250.

(Daily Chart) Banknifty closed the week below 100 Week EMA  and even 100 DEMA and 200 DEMA . In panic banknifty may slide upto 9500-9400. Till the Banknifty gives breakout from Flag pattern there should not be any buying.