BankNifty Spot Weekly Outlook For Expiry Week Feb21- Feb25

Falcon Analytics Outlook for BankNifty for Expiry the week (Feb 21 – Feb25)

Technically on the daily charts we see minor support on the downside for BankNifty index lies at 36878 levels,
whereas minor resistance on the upside is capped around 38261 levels.

If BankNifty 50 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 36451//35760 and and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 38688/39380 .

Currently BankNifty 50 index is trading above 200 days exponential suggests long term trend is Bullish.

Falcon Analytics predicts range for the week is seen from 35760 on downside and 39380 on upside.

( All Spot Levels)

RESISTANCE 3: 39380

RESISTANCE 2: 38688

RESISTANCE 1: 38261

WEEKLY PIVOT LEVELS: 35750

SUPPORT 1: 36878

SUPPORT 2: 36451

SUPPORT 3: 35760

All above views for education purpose only.

Regards,
MD

Trade active:

Banknifty Fut Goes Short @ 37340

Trade closed manually:

Covered Short Banknifty Fut @ 37677 ( trade closed)

Trade active:

BANKNIFTY Fut Goes Short @ 37664

Trade closed manually:

Banknifty Fut shorts Covered @ 37675 ( trade closed )