(Banknifty Weekly Chart)
Banknifty is trading in rising wedge pattern and got sold off from the wedge top around 12150 and took the support near 100WMA around 11045.
For coming week upside immediate resistance is around 11385-11450 zone and downside its having support around 11140-11180 zone. It will be weak below 11045.
Rising Wedge pattern is considered as reversal pattern when it is found in uptrend. It will be bearish only when it breaks down the pattern followed by stochastic and MACD indicator. Yet the pattern is not broken.
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