Market Trend Lab

(BANKNIFTY WEEKLY CHART) (BANKNIFTY DAILY CHART) In Daily Chart one can see banknifty is trading in Rising Wedge and MACD is near the resistance line which suggest cautious approach at higher level. Whereas there is no weakness in weekly chart and it is still in buy on dip mode. On upside banknifty is having resistance near 18735--18800 and on downside support near 18400 below which it can slip to 18100---18000. One can see that MACD respects its trend line so one can wait for negative crossover in daily chart to spot weakness in trend. NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:   http://justbankniftystock.blogspot.in/