BharatJhunjhunwala

The RSI and MACD are displaying divergence, if the formation is

NSE:BANKNIFTY   NIFTY BANK
The weekly banknifty chart has closed negative this week, back to back two bearish candles also indicates momentum suppression in the index. 31800 will provide immideate support to the index, giving away this may push the index to 31300 levels. However the trend is still up and any bounce from the support will push banknifty up 32600, 32800 & 33300 finally. The RSI and MACD are displaying divergence, if the formation is not negated in coming sessions then correction is quite probable.
Bharat Jhunjhunwala
MFTA,CMT,CFTe,MSTA
http://www.prorsi.com