(BANKNIFTY WEEKLY CHART)
As indicated in earlier post banknifty rallied towards 19000 and made a high of 19166.
Banknifty is trading in 'Rising Wedge' in weekly timeframe and today it made the low (18388) near its support line. MACD yet to give negative cross-over.
Banknifty below 18400 will slip to 18100--18000. On upside immediate resistance is 18670--18735.
Breaking down of wedge will target 17500--17300.
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THOUGHT OF THE DAY:
"WINNING IS NOT EVERYTHING, BUT THE EFFORT TO WIN IS.." : ZIG ZIGLAR
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