(Banknifty: weekly chart)
In week timeframe, Banknifty MACD has broken down the 'Rising Wedge' with negative cross-over and what a free fall..!!!!!!!!!!!. Banknifty had found difficulty to sustain above 18500 level. Now on downside two crucial supports to watch are near 17500 level (200DMA) and 17220 (50WMA).
Banknifty trend is down and every rise met with selling pressure. According to weekly JBNSAR banknifty is weak below 18370.