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NIFTY BANK:

NIFTY BANK Index closed the week on positive note gaining 27.40 points 0.08%.

Weekly High: 32,502.80

Weekly Low: 31,963.25

Weekly Close: 32,412.35

Technically on the daily charts we see minor support on the downside for NIFTY BANK index lies at 32000 levels, whereas minor resistance on the upside is capped around 32600-32650 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 31700 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 32900.

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 31800 on downside and 32900 on upside.

RESISTANCE 2: 32,832

RESISTANCE 1: 32,622

SUPPORT 1: 32,082

SUPPORT 2: 31,753