(Daily chart : To enlarge click on chart)
IMPORTANT POINTS FOR TRADING
- Banknifty is in 'Sell on Rise' mode.
- In above daily chart one can see the negative diversion in MACD which indicated well to be cautious at higher levels Where as Stochastic will confirm down move (bigger correction) once it breaks the black arrow.
- This week also expecting banknifty to remain under pressure (Till RBI policy review on 29th JAN 2013) and might trade in range of 12600-12840.
- On upside banknifty has resistance around 12780-12840 zone and on downside it has important support at 12580.
- On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..
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