Check Bank Nifty Full Analysis At Unicorn Signals

Bank Nifty Weekly Outlook and Analysis:

For the Week: (May 30, 2022 – Jun 03, 2022)

Check Nifty Index Full Analysis At Unicorn Signals

NIFTY BANK Index closed the week on positive note gaining 1336.90 points 3.90%.

Weekly High: 35,694.85

Weekly Low: 34,115.80

Weekly Close: 35,613.30

Weekly Support & Resistance For Nifty Bank Index:

Technically on the daily charts we see minor support on the downside for NIFTY BANK index lies at  35000 levels, whereas minor resistance on the upside is capped around 3600-36100 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 34500 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 36500.

Currently NIFTY BANK index is trading below 200 days exponential moving average and suggests long term trend is bearish. EquityPandit’s analyst predicts range for the week is seen from 34600 on downside and 36400 on upside.