(BANKNIFTY WEEKLY CHART)
Banknifty is trading in falling wedge pattern (shown with black dotted lines). In above chart one can see that though banknifty broken the falling wedge pattern on down side by making lows but always closed the week near support line of wedge.
Now in coming week Wedge support and resistance comes around 8980 and 10300-10350. 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 9120 and 9480 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.
Our Previous Weekly JBNSAR system given Sell signal below @11525 on 16th july 2013 (open gap down @ 11459) and the same is reversed on 5th Sep 2013 @9450 thereby our weekly JBNSAR system given gain of 2000+ point.
Our Previous Weekly JBNSAR system given Sell signal below @11525 on 16th july 2013 (open gap down @ 11459) and the same is reversed on 5th Sep 2013 @9450 thereby our weekly JBNSAR system given gain of 2000+ point.
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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