(BANKNIFTY DAILY CHART)
Banknifty is trading in a triangle pattern and breaking on either side will give the clear trend. It has created strong resistance zone of 12820-12930 and on downside it has good support around 12500-12550.
Banknifty is in 'sell on rise' mode and Range bound. Here one can trade with support and resistance with stoploss.
Our weekly JBNSAR given long signal @11371 and which was reversed @12755 last week (i.e. 1000+ points gain). But than last week it closed above 12755 and generated long signal again and this week made high of 13016 and again generated short signal at 12820. In short, our weekly JBNSAR OR even any system will give u whipsaw in range bound market so there u have to book profit near support and resistance again and again. When the trend is clear and strong there is no whipsaw in weekly JBNSAR.
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