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By EquityPandit

BANKNIFTYINDEX OUTLOOKMARKET OUTLOOK

NIFTY BANK Outlook for the Week (February 19, 2024 – February 23, 2024)

NIFTY BANK
NIFTY BANK
NIFTY BANK closed the previous week on a negative note losing 4.41%.

Technically, NIFTY BANK share price will see immediate support at 45,114.67 and immediate resistance would be seen at 47,174.22.

If NIFTY BANK share price closes below immediate support of 45,114.67, then sharp breakdown can be seen. NIFTY BANK share price will see major support at 43,844.48 for the week.

48500.0048500.0048000.0048000.0047500.0047500.0047000.0047000.0046500.0046500.0046000.0046000.0045500.0045500.0045000.0045000.0044500.0044500.0044000.0044000.00Jan 5Jan 5Jan 10Jan 10Jan 15Jan 15Jan 18Jan 18Jan 23Jan 23Jan 29Jan 29Feb 1Feb 1Feb 6Feb 6Feb 9Feb 9Feb 14Feb 14Reversal Level 45663.06BuyBuyBuySellSellSell

On the positive side, immediate resistance will be seen at 47,174.22. Closing above 47,174.22, NIFTY BANK share price will see a sharp breakout. Major resistance for NIFTY BANK share price will be seen at 47,963.58 for the week.

Trading range for NIFTY BANK share price for this week should be between 43,055.12 on down side and 49,233.77 on up side.

NIFTY BANK Previous Week High: 46693.4

NIFTY BANK Previous Week Low: 44633.85

NIFTY BANK Previous Week Range: 2059.55 Points

NIFTY BANK share price support and resistance for the week (February 19, 2024 – February 23, 2024)

Level Type Value
Resistance 3 49,233.77
Resistance 2 47,963.58
Resistance 1 47,174.22
Support 1 45,114.67
Support 2 43,844.48
Support 3 43,055.12
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