Banknifty weekly update : Trading in downward channel..

(BANKNIFTY WEEKLY CHART)

Banknifty is trading in downward channel and in weekly chart, MACD cross over dragged it to lower level of 9944.

Now on upside resistance is 10500-10580 zone and on downside support is 9900-9950 and below this level it may slip to 9500.

Banknifty is weak below 10430 level.

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