Check Bank Nifty Full Analysis At Unicorn Signals

Bank Nifty Weekly Outlook and Analysis:

For the Week: (Jan 30, 2023 – Feb 03, 2023)

Check Nifty Index Full Analysis At Unicorn Signals

NIFTY BANK Index closed the week on negative note losing 2161.50 points 5.09%.

Weekly High: 43,078.90

Weekly Low: 40,148.80

Weekly Close: 40,345.30  

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  39,400 levels, whereas minor resistance on the upside is capped around 41,200-41,300 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 38,400 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 42,200.

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 38,500 on downside and 42,000 on upside.