Nifty and bank nifty index 03/03/22

Charts and index daily #37

Nifty 50 current price – 16605.95

Niftyfut current price – 16613.45

Niftyfut Outlook:

Niftyfut has moved from 16450 (20th Dec 2021) to 18363.50 ( 18th Jan 2022). On 02nd Mar 2022, it has closed at 16613.45 30min 20EMA – 16595.58

If today 3rd March, it opens above - 16595.58  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: 16486 - 16362.15 - 16250 - 16163 - 15932 -15514.

Niftyfut Resistance: 16650 - 16850 - 17004 - 17230 - 17430 - 17670.

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

BankNifty current price – 35372.80

BankNifty Fut current price – 35463.40

BankNifty Fut Outlook:

Banknifty future has moved from 34150 (20th Dec 2021) to 38965.65 (18th Jan 2022). On 02nd Mar 2022, it has closed below support - 35670.10

If today 03rd March - it opens above or moves above resistance level - 35740, then it can move further till 37182.00

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: 35346 - 35117 - 34400 - 33917.

BankNifty Fut Resistance: 35740 - 36250 - 36540 - 37041 - 37421.

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

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