After coming back into the 'Rising Channel' , Banknifty was on fire.
Stochastic and RSI already given positive signal and MACD yet to give. Price reversed from downtrend after breaking the falling wedge on upside.
Our Weekly JBNSAR generated long signal @ 11371. Now in coming week , RBI policy review is due on 3rd May which will act as major trend decider. There is high expectation in market for rate cuts from RBI. Till than we expect range bound sessions i.e. 12100-12200 to 12750-------12950.
This time will it float and show 13000 level OR will sink below 12000???? WAIT AND WATCH TILL 3RD MAY... Being event base week be cautious.
Comments
Post a Comment