Check Bank Nifty Full Analysis At Unicorn Signals

Bank Nifty Weekly Outlook and Analysis:

For the Week: (Oct 17, 2022 – Oct 21, 2022)

Check Nifty Index Full Analysis At Unicorn Signals

NIFTY BANK Index closed the week on positive note gaining 127.55 points 0.33%.

Weekly High: 39,570.85

Weekly Low: 38,437.95

Weekly Close: 39,305.60  

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  38600 levels, whereas minor resistance on the upside is capped around 39900-40000 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 37900 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 40700.

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 38000 on downside and 40500 on upside.