BANKNIFTY WEEKLY PREDICTION FOR 30 OCT TO 3 NOV. 2017

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WEEKLY RESISTANCE FOR BANKNIFTY: 25086, 25481, 25704, 25927

PIVOT POINT: 24691

WEEKLY SUPPORT FOR BANKNIFTY :  24468,24245,23850,23455

WEEKLY CHART FOR BANKNIFTY

DAILY RESISTANCE FOR BANKNIFTY: 25037, 25068, 25107,25146

PIVOT POINT: 25007

DAILY SUPPORT FOR BANKNIFTY : 24968, 24929, 24898,24868

DAILY CHART FOR BANKNIFTY

HIGHEST WEEKLY CLOSING FOR bankNIFTY.

Bank Nifty opened the week at 24045, made a high of 25225, low of 23985 and closed the week at 24990. Thus it closed the week with a gain of 938 points. As the bank nifty is managing to trade above its 22 and 55&200 days moving averages with the RSI of 60, one may expect the targets of 25200/25500 in the stock if it manages to sustain above the immediate support level of 24850/24800.

banknifty Still In Positive Momentum, Hold Long With Strict Sl 24800

Technically, BANKNIFTY is still in positive zone but. Some profit booking can be ruled out at this point of time. BANKNIFTY would be considered weak below 24800 levels for bank Nifty. BANKNIFTY would see reversal if it is closes below 24800 levels. Overall, it is strong for long-term and Investors can go long at every dip. Bank Nifty may see some further temporary correction but traders should initiate short only below 23800 levels until then, every downfall is an opportunity to go long in the Bank Nifty.Ifbank nifty managed to close above 25100 levels.Or breaching this level.bank nifty would force it to move towards 25200-25260-25320-25500 levels.