Nifty Outlook for the Week (Feb 19, 2018 – Feb 23, 2018)

NIFTY:

Nifty closed the week on absolutely flat note.

As we have mentioned last week, that resistance for the index lies in the zone of 10650 to 10750 from where the index has opened gap down. If the index manages to close above these levels then the index can move to the levels of 10900 to 11000 from where the index broke down after consolidation. During the week the index manages to hit a high of 10618 and close the week around the levels of 10452.

Support for the index lies in the zone of 10400 to 10500 where break out levels and medium term moving averages are lying. If the index manages to close below these levels then the index can drift to the levels of 10000 to 10100 where the index has taken multiple supports in the month of November-2017 & December-2017 and long term moving averages are lying.

Resistance for the index lies in the zone of 10650 to 10750 from where the index has opened gap down. If the index manages to close above these levels then the index can move to the levels of 10900 to 11000 from where the index broke down after consolidation.

Broad range for the week is seen from 10000 on downside & 11000 on upside.

  

MORE WILL UPDATE SOON!!

Nifty Bank Outlook for the Week (Feb 19, 2018 – Feb 23, 2018)

NIFTY BANK:

Nifty Bank closed the week on negative note losing around 1.20%.

As we have mentioned, last week that minor resistance for the index lies in the zone of 25700 to 25800. Resistance for the index lies in the zone of 26200 to 26300 from where the index has opened gap down. If the index manages to close above these levels then the index can move to the levels of 26700 to 26900 where trend-line joining earlier highs is lying. During the week the index manages to hit a high of 25810 and close the week around the levels of 25164.

Support for the index lies in the zone of 25000 to 25100 from where the index broke out of triple top pattern. If the index manages to close below these levels then the index can drift to the levels of 24400 to 24500 where long term moving averages are lying.

Minor resistance for the index lies in the zone of 25700 to 25800. Resistance for the index lies in the zone of 26200 to 26300 from where the index has opened gap down. If the index manages to close above these levels then the index can move to the levels of 26700 to 26900 where trend-line joining earlier highs is lying.

Range for the week is seen from 24400 to 24500 on downside & 25500 to 25600 on upside.

MORE WILL UPDATE SOON!!