EquityPandit’s Outlook for NIFTY PSU BANK for the week (April 29,2019 – May 03,2019):

NIFTY PSU BANK:

NIFTY PSUBANK Index closed the week on negative note losing -50.65 Points -1.58%

Weekly High: 3286.40

Weekly Low: 3107.10

Weekly Close: 3162

Technically on the daily charts we see minor support on the downside for index lies at 3100- 3120 levels, whereas minor resistance on the upside is capped around 3200-3220 levels.

If Nifty PUSBANK index breaches minor support on the downside and closes below it we may see fresh break down and index can drag index towards major support on lower side around 3000- 3030 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 3340- 3350

Currently Nifty PSUBANK index is trading above 200 days exponential moving average suggests long term trend is bullish.

EquityPandit’s analyst predicts range for the week is seen from 3340- 3350 on upside and 3000- 3030 on downside.