Bank Nifty Weekly Outlook and Analysis:

For the Week: (Dec 06,2021 – Dec 10,2021)

NIFTY BANK Index closed the week on positive note gaining 171.65 points 0.48%.

Weekly High: 36,844

Weekly Low: 35,327.90

Weekly Close: 36,197.15

Weekly Support & Resistance For Nifty Bank Index:

Technically on the daily charts we see minor support on the downside for NIFTY BANK index lies at  35500 levels, whereas minor resistance on the upside is capped around 36800-36850 levels.

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 34600 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 37500.

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 34700 on downside and 37400 on upside.