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By EquityPandit

BANKNIFTYINDEX OUTLOOKMARKET OUTLOOK

NIFTY BANK Outlook for the Week (February 05, 2024 – February 09, 2024)

NIFTY BANK
NIFTY BANK
NIFTY BANK closed the previous week on a negative note losing 3.88%.

Technically, NIFTY BANK share price will see immediate support at 45,063.98 and immediate resistance would be seen at 46,885.13.

If NIFTY BANK share price closes below immediate support of 45,063.98, then sharp breakdown can be seen. NIFTY BANK share price will see major support at 44,157.02 for the week.

49000.0049000.0048500.0048500.0048000.0048000.0047500.0047500.0047000.0047000.0046500.0046500.0046000.0046000.0045500.0045500.0045000.0045000.0044500.0044500.0044000.0044000.00Dec 21Dec 21Dec 27Dec 27Jan 1Jan 1Jan 4Jan 4Jan 9Jan 9Jan 12Jan 12Jan 17Jan 17Jan 20Jan 20Jan 25Jan 25Jan 31Jan 31Reversal Level 45588.24BuyBuyBuySellSellSell

On the positive side, immediate resistance will be seen at 46,885.13. Closing above 46,885.13, NIFTY BANK share price will see a sharp breakout. Major resistance for NIFTY BANK share price will be seen at 47,799.32 for the week.

Trading range for NIFTY BANK share price for this week should be between 43,242.83 on down side and 48,706.28 on up side.

NIFTY BANK Previous Week High: 46892.35

NIFTY BANK Previous Week Low: 45071.2

NIFTY BANK Previous Week Range: 1821.15 Points

NIFTY BANK share price support and resistance for the week (February 05, 2024 – February 09, 2024)

Level Type Value
Resistance 3 48,706.28
Resistance 2 47,799.32
Resistance 1 46,885.13
Support 1 45,063.98
Support 2 44,157.02
Support 3 43,242.83
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