Last week we had expected the #Nifty and #NiftyBank index to go up. But on the contrary both the indices have declined sharply. On the charts, the immediate outlook is slightly unclear for the #nifty50 and #banknifty. The indices can go either way from current levels. So, we prefer to watch the movement to get a clear idea rather than taking stance on a specific direction.

The #usfed meeting outcome on Wednesday will be an important event to watch this week.

#Nifty has support at 21,900 and resistance at 22,250. A break below 21,900 can drag the #Nifty down to 21,600-21,500. On the other hand, if the #Nifty50 manages to break above 22,250, it can rise to 22,600-22,700.

#NiftyBank index has support at 46,000. A break below it can take it down to 45,000 and 44,500. Resistance is at 47,400. A break above it can take the #NiftyBank index up to 48,500 and 49,000.

#DowJones is facing strong resistance around 39,200. The bias is negative to see a fall to 38,000. A break below 38,000 can drag the #Dowjones down to 37,200.