Nifty Bank Outlook for the Week (Aug 17,2020 – Aug 21,2020)

Weekly High: 22,439.95.

CLEVER BANK index has experienced resistant of 100 EMA and reversed the previous muted rally. We anticipate BANKNIFTY most likely to continue this down relocation. Important levels to look out for bulls at 20900-21000 levels.

RESISTANCE 2.
22,840.

For the Week: (Aug 17,2020– Aug 21,2020).

ASSISTANCE 2.
20,878.

Weekly Close: 21,679.40.

Presently NIFTY BANK index is trading below 200 days exponential moving typical and recommends long term pattern is bearish. EquityPandits expert anticipates range for the week is seen from 20000 on disadvantage and 23000 on advantage.

ASSISTANCE 1.
21,279.

COOL BANK Index closed the week on unfavorable note losing 74.60 points 0.34%.

RESISTANCE 1.
22,259.

Weekly Support & & Resistance For Nifty Bank Index:.

Technically on the day-to-day charts we see minor support on the downside for NIFTY BANK index lies at 21000 levels, whereas small resistance on the benefit is topped around 22250-22350 levels.

Weekly Low: 21,459.10.

If NIFTY BANK index breaches small assistance on the drawback and closes listed below it, we may see fresh break down and index can drag towards significant assistance on lower side around 19600 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards greater levels around 23200.