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BANKNIFTYINDEX OUTLOOKMARKET OUTLOOK

NIFTY BANK Outlook for the Week (May 20, 2024 – May 24, 2024)

NIFTY BANK
NIFTY BANK
NIFTY BANK closed the previous week on a negative note losing 2.50%.

Technically, NIFTY BANK share price will see immediate support at 47,336.38 and immediate resistance would be seen at 48,541.78.

If NIFTY BANK share price closes below immediate support of 47,336.38, then sharp breakdown can be seen. NIFTY BANK share price will see major support at 46,557.12 for the week.

50000.0050000.0049500.0049500.0049000.0049000.0048500.0048500.0048000.0048000.0047500.0047500.0047000.0047000.0046500.0046500.00Apr 3Apr 3Apr 8Apr 8Apr 12Apr 12Apr 18Apr 18Apr 23Apr 23Apr 26Apr 26May 2May 2May 7May 7May 10May 10May 15May 15Reversal Level 47371.28BuySellSell

On the positive side, immediate resistance will be seen at 48,541.78. Closing above 48,541.78, NIFTY BANK share price will see a sharp breakout. Major resistance for NIFTY BANK share price will be seen at 48,967.92 for the week.

Trading range for NIFTY BANK share price for this week should be between 46,130.98 on down side and 49,747.18 on up side.

NIFTY BANK Previous Week High: 48188.65

NIFTY BANK Previous Week Low: 46983.25

NIFTY BANK Previous Week Range: 1205.4 Points

NIFTY BANK share price support and resistance for the week (May 20, 2024 – May 24, 2024)

Level Type Value
Resistance 3 49,747.18
Resistance 2 48,967.92
Resistance 1 48,541.78
Support 1 47,336.38
Support 2 46,557.12
Support 3 46,130.98
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