Market Trend Lab

(weekly chart) (click on chart to enlarge) Banknifty in 'Rising Wedge Pattern' (shown in pink colour)   made a high of 12960.65 and after breaking down the pattern made a low of 12024  till date.  Weekly MACD & Stochastic both are crossed down. Now next week 12015  and 12115 is important support zone and below which  it will be weak and may slide upto  11900  and in panic upto  11750. In above chart , One can see Rising channel (shown in Green colour)   and its support line comes around 11200 which will act as major support . Banknifty above 12115 may give pull back rally but it will have strength only above 12350 . ============================== We are back after a long holiday... Coming soon positional stock ideas on  'JUST BANKNIFTY' ============================== There is no need to trade everyday... 'Trade Less Trade Smart' WITH JUST BANKNIFTY