Banknifty is downtrending in week timeframe with MACD crossed down. It has closed well below 100 WMA @10730-10750 and also below 50% retracement level @10500-10530 zone.
For coming Week our weekly Agni and JBNSAR levels are 10720 and 11150 respectively.
In coming week banknifty will face strong resistance around 10720-10800 zone. Whereas staying below 10500-10550 will slip upto 10000-----9800 levels. We expect coming week will be highly volatile due to key events specially RBI monetary policy review on Tuesday.
In coming week banknifty will face strong resistance around 10720-10800 zone. Whereas staying below 10500-10550 will slip upto 10000-----9800 levels. We expect coming week will be highly volatile due to key events specially RBI monetary policy review on Tuesday.
Our Weekly JBNSAR system given Sell signal below @11525 on 16th july 2013 (open gap down @ 11459). Part booking was advised near 11000 and balance shall be held till it reversed by weekly JBNSAR.
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.
KEY EVENTS : RBI's mid-quarter monetary policy review on Tuesday, Monthly fiscal deficit data on Wednesday and Foreign Exchange data on Friday.
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