(BANKNIFTY WEEKLY CHART)
Banknifty is trading in falling wedge pattern (shown with black dotted lines) and week ended by struggling near the resistance line of Wedge.
Now in coming week Wedge resistance comes around 10100-10050. Breaking of the Falling Wedge on upside will be bullish reversal followed by positive crossover by stochastic and MACD indicator.
Next week our weekly Agni and JBNSAR levels are 9700 and 9665 respectively.
On 5th Sep 2013 our Weekly JBNSAR system given long signal @9450 and part booking is advised near 9800-10000 zone (gain of 400-500+ points) and balance shall be held till Weekly JBNSAR reverses i.e. 9665 (till 20th sep 2013)
Note:
- To read more on 'Falling Wedge Pattern ' go to following link:
- 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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