IMPORTANT POINTS FOR TRADING
- In daily chart Banknifty has made one big 'Inverted Cup and Handle Pattern' (shown in pink dotted lines) which is a 'bearish pattern'.It has broken the joining lines of rim and after that made a low of 11173
- It has also broken down and closed below 'Weekly Rising channel support' around 11350-11400...
- Now immediate resistance for banknifty is 11300 and above which it will have minor strength to bounce till 11400-11460 zone whereas it has support around 11170 below which it will fall upto 10945-11000 zone.
- We expect minor rally this week on account of short covering being expiry near by. Below this post one can see weekly and monthly view on banknifty.
- On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..
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