Banknifty has made rising wedge pattern and which is bearish pattern in uptrend when it gives breakdown from the pattern followed by negative crossover by stochastic and MACD indicator. It has not given breakdown from the pattern yet.
Banknifty immediate resistance will be 11100 on upside.
Immdiate support will be around 100WMA near 10900 and below which it can slip upto 10700-----10590.
For further upmove it is important to sustain above 100WMA i.e. above 10900.
Our JBNSAR technique given Short signal @11065 on 20th Nov 2013.. and one lot booked near 10915 (gain of 150 points) and 2nd lot on hold... In November month we booked gain of 1440 points till date..!!!!!!!!!
Banknifty immediate resistance will be 11100 on upside.
Immdiate support will be around 100WMA near 10900 and below which it can slip upto 10700-----10590.
For further upmove it is important to sustain above 100WMA i.e. above 10900.
Our JBNSAR technique given Short signal @11065 on 20th Nov 2013.. and one lot booked near 10915 (gain of 150 points) and 2nd lot on hold... In November month we booked gain of 1440 points till date..!!!!!!!!!
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