(BANKNIFTY WEEKLY CHART)
In week timeframe , Banknifty MACD has given a negative crossover and also broken down the rising wedge.
Whereas banknifty price closed the week within the channel (shown with pink color) . Now channel support comes around 18500.
Whereas banknifty price closed the week within the channel (shown with pink color) . Now channel support comes around 18500.
Banknifty is weak and 'sell on rise mode' It will have strength only above 19200 and on downside it has support near 18500--18200--17900.
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