Check Nifty PSUBank Index Full Analysis At Unicorn Signals

Nifty PSUBank Index Weekly Outlook and Analysis:

For the Week: (July 31, 2023 – Aug 04, 2023)

Nifty PSUBank Outlook for the Week (July 31, 2023 – Aug 04, 2023)

NIFTY PSUBANK Index closed the week on positive note gaining 41.60 points 0.91%.

Weekly High: 4,647.95

Weekly Low: 4,483.85

Weekly Close: 4,605.85

Weekly Support & Resistance for Nifty PSU Bank Index:

RESISTANCE 2	4,743
RESISTANCE 1	4,674
SUPPORT 1	4,510
SUPPORT 2	4,415

Technically on the daily charts we see minor support on the downside for NIFTY PSU BANKS index lies at 4,525 levels, where as minor resistance on the upside is capped around 4,650-4,675 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 4,425 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 4,750.

Currently NIFTY PSU BANKS index is trading above 200 days exponential moving average and suggests long term trend is bull- ish. EquityPandit’s analyst predicts range for the week is seen from 4,450 on downside and 4,725 on upside.

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