Market Trend Lab

(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 . ********** NOTE:   FOR PAIR TRADING VISIT OUR SEPARATE SITE:  http://justbankniftystock.blogspot.in **********   THOUGHT OF THE DAY: "WINNING IS NOT EVERYTHING, BUT THE EFFORT TO WIN IS.." : ZIG ZIGLAR