Nifty and bank nifty index 02/03/22

Charts and index daily #36

Nifty 50 current price – 16793.90

Niftyfut current price – 16794.25

Niftyfut Outlook:

Niftyfut has moved from 16450 (20th Dec 2021) to 18363.50 ( 18th Jan 2022). On 28th Feb 2022, it has closed at 16794.25 30min 20EMA – 16684.42

If today 2nd March, it opens above - 16684.42  and moves above the resistance level 16750, it can move further till 17004 - 17430.

Until volatility normalise in the market and Nifty (spot) close for the day above 16850, it was not advisable to go long in nifty Fut.

Niftyfut Support: 16650 - 16486 - 16250 - 16163 - 15932 -15514.

Niftyfut Resistance: 16850 - 17004 - 17230 - 17430 - 17670.

Niftyfut Range: 16250 - 17430 for this week (28th Feb to 4th Mar 2022).

BankNifty current price – 36205.30

BankNifty Fut current price – 36261.65

BankNifty Fut Outlook:

Banknifty future has moved from 34150 (20th Dec 2021) to 38965.65 (18th Jan 2022). On 28th Feb 2022, it has closed below support - 36286.40

If today 2nd March - it opens above or moves above resistance level - 36539.35, then it can move further till 37421.00 - 38189.00

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

BankNifty Fut Support: 36250 - 35740 - 35117 - 34400 - 33917.

BankNifty Fut Resistance: 36540 - 37041 - 37421 - 37650 - 38189.

BankNifty Fut Range: 35740 - 38189 for this week (28th Feb to 4th Mar 2022).

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