(Banknifty Daily Chart)
Today Banknifty below Daily Agni and JBNSAR level 13205-13145 zone will be weak and further weakness may follow if it breaks support level of 12900-12940 which will take banknifty to Weekly JBNSAR level of 12755.
Where as on upside it has series of resistance i.e. 13145-13205-13300-13414-13510. Hence it will be difficult task for banknifty to climb up.
There will be panic only below Weekly JBNSAR 12755. (Weekly JBNSAR given Long signal @11371). This is the last hope for bull.
On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support/ resistance levels..
Note: The country's largest bank SBI is due to announce its Q4 result today. It is having highest weightage on banknifty index.
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