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Banknifty : MACD analysis in day timeframe...

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(BANKNIFTY DAILY CHART)

In above Banknifty Day chart, one can see how MACD respects its trendline and offered great opportunity to trade. 

Recently it has activated buy mode around 15480-15525 by giving positive crossover near the support of trendline. 

Now on downside it has support around 15450--15200 and on upside resistance near 16200

NOTE: FOR PAIR TRADING VISIT: http://justbankniftystock.blogspot.in/

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Comments

  1. Nanda Kumar3/9/14 22:02

    Hello Sir,

    Does it appear that butterfly resistance will play out around 16400-16530 range, strictly going by Fib ratios? If pattern to fail, a sudden jump may be seen after 16500-600 range?

    Thanks!

    ReplyDelete
  2. MD3/9/14 22:50

    Now immediate resistance is 16225.. and after that as you said 16400-16530 zone...
    butterfly pattern's target for 'D' is 16530.. and if sustains above this level too than will show 21500 level in long term. where as on downside support is 16000-15700 zone..

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