Banknifty is downtrending in day and week timeframe. When trend is strong in higher time frame, it remains in oversold area with steep fall in day time.
It is trading in channel. Today Channel support comes around 11250 and than next support comes around 11185.
Our weekly JBNSAR given sell signal @12820 on 30th May 2013.
On right side of blog, Daily and weekly Agni/JBNSAR levels are mentioned they act as important support / resistance levels.. Trading below all this level will be weak...Positional traders should trade with weekly JBNSAR
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