Banknifty is in downtrend in week and day timeframe. When trend is strong in higher time frame, every rally in day will get sell off...
Today above 11185 it can move towards 11270--11340--- 11440 which will be strong resistance zone for the day. Whereas on downside it can slide upto 11100----11000---10700.
We expect high volatility in coming time being expiry near by. Over all trend is negative.
Our weekly JBNSAR given sell signal @12820 on 30th May 2013 (right now it is in 1600+ point gain). Part booking was advised near support zone of 11900-12200. and balance is held with trailing stop loss.
On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support / resistance levels.. Positional traders should trade with weekly JBNSAR.
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