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Check Bank Nifty Full Analysis At Unicorn Signals
Bank Nifty Weekly Outlook and Analysis:
For the Week: (Oct 31, 2022 – Oct Nov, 2022)
Check Nifty Index Full Analysis At Unicorn Signals
NIFTY BANK Index closed the week on positive note gaining 206.80 points 0.51%.
Weekly High: 41,530.65
Weekly Low: 40,839.30
Weekly Close: 40,990.85
Weekly Support & Resistance For Nifty Bank Index:
| RESISTANCE 2 | 41,811 |
| RESISTANCE 1 | 41,401 |
| SUPPORT 1 | 40,709 |
| SUPPORT 2 | 40,428 |
Technically on the daily charts we see minor support on the downside for NIFTY BANK index lies at 40300 levels, whereas minor resistance on the upside is capped around 41500-41600 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 39600 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 42000.
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 39700 on downside and 41900 on upside.
