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Nifty Bank Index Weekly Outlook and Analysis:

For the Week: (June 26, 2023 – June 30, 2023)

Nifty Bank Outlook for the Week (June 26, 2023 – June 30, 2023)

NIFTY BANK Index closed the week on negative note losing 315.25 points 0.72%.

Weekly High: 44,042.15

Weekly Low: 43,345.95

Weekly Close: 43,622.90

Weekly Support & Resistance For Nifty Bank:

Technically on the daily charts we see minor support on the downside for NIFTY BANK index lies at  43,000 levels, whereas minor resistance on the upside is capped around 44,000-44,050 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 42,200 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 44,500.

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 42,300 on downside and 44,400 on upside.