Check Bank Nifty Full Analysis At Unicorn Signals

Bank Nifty Weekly Outlook and Analysis:

For the Week: (May 22, 2023 – May 26, 2023)

NIFTY BANK Index closed the week on positive note gaining 175.85 points 0.40%.

Weekly High: 44,151.70

Weekly Low: 43,446.40

Weekly Close: 43,969.40

Weekly Support & Resistance For Nifty Bank Index:

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 42,800 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 44,700.

Technically on the daily charts we see minor support on the downside for NIFTY BANK index lies at  43,500 levels, whereas minor resistance on the upside is capped around 44,300-44,350 levels.

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 43,000 on downside and 44,600 on upside.