Bank Nifty Weekly Outlook and Analysis:

For the Week: (Jan 31, 2022 – Feb 04, 2022)

NIFTY BANK Index closed the week on positive note gaining 115.10 points 0.31%.

Weekly High: 38,421.70

Weekly Low: 36,375.35

Weekly Close: 37,689.40

Weekly Support & Resistance For Nifty Bank Index:

RESISTANCE 2	39,541
RESISTANCE 1	38,615
SUPPORT 1	36,569
SUPPORT 2	35,449

Technically on the daily charts we see minor support on the downside for NIFTY BANK index lies at  37000 levels, whereas minor resistance on the upside is capped around 38450-38500 levels.

If NIFTY BANK index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 36300 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 39300.

Currently NIFTY BANK index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 36400 on downside and 39100 on upside.

---

Now Analyze Any Stock Yourself Just In a Few Minutes…

A Free but the Most Powerful Tool For Smarter Analysis of any stock. Analyze any stock at: StockFact – Top Stock Research, Screener And Analysis Tool

---

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe to premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

Premium Subscription Pricing details can be seen at Stock Market Premium Services