EquityPandit’s Outlook for BankNifty for week (July 13, 2015 – July 17, 2015):

BANKNIFTY:

BankNifty ended the week on absolutely flat note.

As we have suggested the index is approaching towards the strong resistance zone of 18900 to 19100 where trend-line and upward moving channel are positioned and the index hit the high of 18980 during the week and retraced back to the levels of 18400.

The index has been out-performing the Nifty and ended the week on flat note.

Above the resistance zone of 19000 the index can move to the levels of 19400 where downward sloping channel is positioned.

Support for the index lies in the zone of 18300 to 18500 where short term moving averages, long term moving averages and trend-line are positioned.

Range for the week is seen from 18300 to 18500 on downside to 19100 to 19250 on upside.