(Banknifty Weekly Chart)
Banknity is trading in side ways from last three weeks in the range of 10800 to 11250. It has broken the rising wedge pattern and MACD yet to give negative cross over and if it does than it will bring more weakness in coming days. Banknifty below 10970 level will be weak.
On upside immediate resistance around 11085 and than 11200 and on downside immediate support around 10830--10880 below which it will slip upto 10400 level.
In coming week one has to watch for MACD corss over and RBI 3rd Quarter Monetary policy review on 28th Jan 2014 which will bring high volatility.
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