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Nifty and #NiftyBank #banknifty index remained stable, and range bound last week. The #Dowjones on the other hand continues its rise for the fourth consecutive week.
The #Dowjones is coming closer to a crucial resistance and the price action going forward is going to be very important. The #Dowjones has crucial resistance in the 35,500-35,750 region. Whether the index breaks above 35,750 or not will determine the next move.
On the domestic front, the outlook for the #Nifty and #Niftybank #banknifty indices remains unclear. So, we will wait for the range breakout to get clarity on the next move.
#Nifty has support at 19,750 and resistance at 19,875. A break above 19,875 will be bullish to see the #nifty rising to 20,000-20,100 this week. On the other hand a break below 19,750 can take it down to 19,600-19,500.
#NiftyBank #banknifty has support at 43,000 and resistance at 44,500. A break above 44,500 will be bullish for the #banknifty #niftybank to see 45,000 and higher levels. But a break below 43,000 will be bearish to see 42,000 on the downside.
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Nifty and Bank Nifty Weekly Forecast (Nov 27 – Dec 01, 2023) by BL GURU: Crucial Levels and Predictions – BusinessLine
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