BankNifty Spot Weekly Outlook For Week May30th–Jun 03

2022年5月31日

Falcon Analytics Outlook Bank Nifty for the week ( May 30 – Jun 03 )

Technically on the daily charts we see minor support on the downside for BankNifty index lies at 34164 levels,
whereas minor resistance on the upside is capped around 36263 levels.

If BankNifty 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 33561/32958 and and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards major resistance at higher levels around 36719/37322.

Currently BankNifty index is just trading below 200 day EMA @ 35885 suggests long term trend is Bearish.

Falcon Analytics predicts range for the week is seen from 34164 on downside and 36719 on upside.

Below Mentioned Spot Levels can be used to trade Long Or Short during the week ahead.


( All Spot Levels)

RESISTANCE 4: 37322

RESISTANCE 3: 36719

RESISTANCE 2: 36116

RESISTANCE 1: 35743

WEEKLY PIVOT LEVELS: 35140

SUPPORT 1: 34537

SUPPORT 2: 34164

SUPPORT 3: 33561

SUPPORT 4: 32958

All above views for education purpose only.

Regards,
MD .