Check Nifty Bank Index Full Analysis At Unicorn Signals

Nifty Bank Index Weekly Outlook and Analysis:

For the Week: (June 12, 2023 – June 16, 2023)

Nifty Bank Outlook for the Week (May 22, 2023 – May 26, 2023)

NIFTY BANK Index closed the week on positive note gaining 51.15 points 0.12%.

Weekly High: 44,459.25

Weekly Low: 43,917.90

Weekly Range:  43,989

Weekly Support & Resistance For Nifty:

Technically on the daily charts we see minor support on the downside for NIFTY BANK index lies at  43,550 levels, whereas minor resistance on the upside is capped around 44,350-44,400 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 43,200 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 44,800.

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 43,250 on downside and 44,700 on upside.