Banknifty is downtrending in week timeframe with MACD crossed down. It is falling in very steep channel from its all time high@13414 and closed @9816 below 38.2% retracement level.
Banknifty is highly oversold in week timeframe hence, one should be cautious in initiating fresh short. In coming week , upside resistance @10250-10300 zone and above that strong resistance of 100WMA@10750 whereas on downside below 9660 may slip upto 9400-9350.
Banknifty is highly oversold in week timeframe hence, one should be cautious in initiating fresh short. In coming week , upside resistance @10250-10300 zone and above that strong resistance of 100WMA@10750 whereas on downside below 9660 may slip upto 9400-9350.
For coming Week our weekly Agni and JBNSAR levels are 9400 and 10315 respectively.
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.
Bank nifty gained 2% today after RBI reforms to suport INR More Nifty updates and tips at Nifty blog
ReplyDelete