(BANKNIFTY WEEKLY CHART)
In above weekly chart, banknifty is trading in 'Rising Wedge' and hence, one has to be a cautious at higher level. Weekly MACD yet not given a negative crossover nor price broken down the wedge.
(BANKNIFTY DAILY CHART)
In Daily chart, MACD is near the support line which likely to give some bounce. 18400-18500 is a strong support level and above which it can move towards 19000-19100.
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THOUGHT OF THE DAY:
"You were born to win, but to be a winner,
you must plan to win, prepare to win
and expect to win" : ZIG ZIGLAR
you must plan to win, prepare to win
and expect to win" : ZIG ZIGLAR
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