Check Nifty Bank Index Full Analysis At Unicorn Signals

Nifty Bank Index Weekly Outlook and Analysis:

For the Week: (July 24, 2023 – July 28, 2023)

Nifty Bank Outlook for the Week (July 24, 2023 – July 28, 2023)

NIFTY BANK Index closed the week on positive note losing 1255.90 points 2.80%.

Weekly High: 46,349.50

Weekly Low: 44,695.05

Weekly Close: 46,075.20

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  45,600 levels, whereas minor resistance on the upside is capped around 46,600-46,650 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 45,000 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 47,200.

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 45,100 on downside and 47,000 on upside.