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By EquityPandit

BANKNIFTYINDEX OUTLOOKMARKET OUTLOOK

NIFTY BANK Outlook for the Week (January 29, 2024 – February 02, 2024)

NIFTY BANK
NIFTY BANK
NIFTY BANK closed the previous week on a negative note losing 4.62%.

Technically, NIFTY BANK share price will see immediate support at 44,003.33 and immediate resistance would be seen at 46,154.63.

If NIFTY BANK share price closes below immediate support of 44,003.33, then sharp breakdown can be seen. NIFTY BANK share price will see major support at 43,140.52 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 14Dec 14Dec 19Dec 19Dec 22Dec 22Dec 28Dec 28Jan 2Jan 2Jan 5Jan 5Jan 10Jan 10Jan 15Jan 15Jan 18Jan 18Jan 23Jan 23Reversal Level 45587.87BuyBuySellSellSell

On the positive side, immediate resistance will be seen at 46,154.63. Closing above 46,154.63, NIFTY BANK share price will see a sharp breakout. Major resistance for NIFTY BANK share price will be seen at 47,443.12 for the week.

Trading range for NIFTY BANK share price for this week should be between 41,852.03 on down side and 48,305.93 on up side.

NIFTY BANK Previous Week High: 46580.3

NIFTY BANK Previous Week Low: 44429

NIFTY BANK Previous Week Range: 2151.3 Points

NIFTY BANK share price support and resistance for the week (January 29, 2024 – February 02, 2024)

Level Type Value
Resistance 3 48,305.93
Resistance 2 47,443.12
Resistance 1 46,154.63
Support 1 44,003.33
Support 2 43,140.52
Support 3 41,852.03
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