Market Trend Lab

(Banknifty Weekly Chart) After breaking the falling wedge on upside, Banknifty came back into the  'Rising Channel'  and than it was on fire. Now one can see in above weekly chart one big triangle formation (shown with black lines) of which resistance comes around 12960 and breaking of  which will open doors for 13300 levels Our  Weekly JBNSAR / Agni level also  suggest that above 12490 Banknifty will be strong and will try to move towards 13300 level.   Whereas below 12450 it will be weak and fall upto 12150---11800 Our  Weekly JBNSAR  generated long signal  @ 11371 .  On right side of our blog,  Daily and weekly Agni/JBNSAR levels   are mentioned they act as important support/ resistance levels..

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IMPORTANT POINTS FOR TRADING Banknifty has formed the flag pattern in daily time frame after coming back into the channel. Its support and resistance comes around  12350 and 12850  respectively. Above weekly agni level of  12810  and flag resistance of  12850,  banknifty will be strong to move towards  13000+  level . It will be weak only below weekly JBNSAR level of  12160.  (Weekly JBNSAR given Long signal  @11371 ) On right side of blog,  Daily and weekly Agni/JBNSAR levels   are mentioned they act as important support/ resistance levels..

IMPORTANT POINTS FOR TRADING Banknifty has formed the flag pattern in daily time frame after coming back into the channel. Its support and resistance comes around 12350 and 12850 respectively. Today above weekly agni level of 12810 and flag resistance of 12850, banknifty will be strong to move towards  13000+ level . It will be weak only below weekly JBNSAR level of 12160. (Weekly JBNSAR given Long signal @11371 ) On right side of blog,  Daily and weekly Agni/JBNSAR levels   are mentioned they act as important support/ resistance levels..