Nifty PSU Bank Weekly Outlook and Analysis:

For the Week: (March 07, 2022 – March 11, 2022)

NIFTY PSUBANK Index closed the week on negative note losing 85.15 points 3.20%.

Weekly High: 2,686.80

Weekly Low: 2,573.30

Weekly Close: 2,579

Weekly Support & Resistance For Nifty PSU Bank Index:

RESISTANCE 2	2,726
RESISTANCE 1	2,652
SUPPORT 1	2,539
SUPPORT 2	2,499

Technically on the daily charts we see minor support on the downside for NIFTY PSU BANKS index lies at 2525 levels, where as minor resistance on the upside is capped around 2625-2650 levels.

If NIFTY PSU BANKS 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 2450 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 2750.

Currently NIFTY PSU BANKS index is trading below 200 days exponential moving average and suggests long term trend is bearish. EquityPandit’s analyst predicts range for the week is seen from 2475 on downside and 2700 on upside.

---

Now Analyze Any Stock Yourself Just In a Few Minutes…

A Free but the Most Powerful Tool For Smarter Analysis of any stock. Analyze any stock at: StockFact – Top Stock Research, Screener And Analysis Tool

---

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe to premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

Premium Subscription Pricing details can be seen at Stock Market Premium Services