EquityPandit’s Outlook for Nifty Bank for the week (March 27, 2017 – March 31, 2017) :

NIFTY BANK:

Nifty Bank ended the week on negative note losing around 0.25%.

As we have mentioned last week that support for the index lies in the zone of 20900 to 21000 from where the index broke out on gap up opening. If the index manages to close below these levels then the index can drift to the levels of 20500 to 20600 where the index has taken multiple support. During the week the index manages to hit a low of 20754 and close the week around the levels of 21122.

Support for the index lies in the zone of 20900 to 21000 from where the index broke out on gap up opening. If the index manages to close below these levels then the index can drift to the levels of 20500 to 20600 where the index has taken multiple support.

Resistance for the index lies in the zone of 21275 to 21350 where the index is facing resistance. If the index manages to close above these levels for couple of days then the index can move to the levels of 21700 to 21800.

Range for the week is seen from 20500 to 20600 on downside & 21500 to 21600 on upside.