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BankNifty Spot Weekly Outlook For Expiry Week ( Feb28 - March04)

As discussed in Last Analysis Below 36878 low weak done all levels on downside 36451/35760/35068 Achieved.

Falcon Analytics Outlook Bank Nifty for the week (Feb 28 – Mar4)

Technically on the daily charts we see major support on the downside for BankNifty index lies at 35322 levels,
whereas major resistance on the upside is capped around 37662 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 35599/33429 and and if breaches major resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 37662/38385.

Currently BankNifty index is just trading above 200 day EMA @ 36206 suggests long term trend is Bullish.

Falcon Analytics predicts range for the week is seen from 33429 on downside and 39555 on upside.

( All Spot Levels)

RESISTANCE 4: 40725

RESISTANCE 3: 39555

RESISTANCE 2: 38385

RESISTANCE 1: 37662

WEEKLY PIVOT LEVELS: 36492

SUPPORT 1: 35322

SUPPORT 2: 34599

SUPPORT 3: 33429

SUPPORT 4: 32259

All above views for education purpose only.

Regards,
MD.