Nifty and bank nifty index 02/02/22

Charts and index daily #17

Nifty 50 current price – 17576.85

Niftyfut current price – 17589.00

Niftyfut Outlook:

Niftyfut has moved from 16450 (20th Dec 2021) to 18363.50 ( 18th Jan 2022). On 1st Feb 2022, it has closed at 17589.00 30min 20EMA – 17507.72

If today 2nd Feb, it opens above - 17507.72  and moves above the resistance level 17669.00, it can move further till 17720 -17897, otherwise nifty will see short term correction to 17000 - 16650.

Unless nifty cross 17720 in future, it was not advisable to go long in nifty future.

Niftyfut Support: 17540 - 17430 -17306 - 17004 - 16850.

Niftyfut Resistance: 17669.-17740 -17870 - 18067.

Niftyfut Range: 16650 - 18067 for this week (31st to 4th Feb 2022), If it moves above the resistance of 18067 then it can move further till 18244-18350.

BankNifty current price – 38505.50

BankNifty Fut current price – 38622.75

BankNifty Fut Outlook:

Banknifty future has moved from 34150 (20th Dec 2021) to 38965.65 (18th Jan 2022). On 1st Feb 2022, it has closed above the resistance - 38617.35

If today 2nd Feb 22 - it opens above or moves above resistance level - 38965, then it can move further till 39053 - 39434.

If ICICIBANK moves above 811.00, then it can move towards 825 and HDFCBANK moves further towards 1560, then Banknifty can move further higher above 38965 and to 40335.

BankNifty Fut Support: 38617.35 - 38189 - 37421 - 37041 - 36540.

BankNifty Fut Resistance: 38965.65 - 39053 - 39434 - 40200 - 40335.

BankNifty Fut Range: 36450 - 40200 for this week (31st to 4th Feb 2022).

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