#Nifty and #NiftyBank index have seen a strong rise towards the end of last week. That keeps the short-term outlook bullish for both the #nifty50 and #niftybankindex. We see good chances for both the #Nifty and #NiftyBank index to rise further from current levels.
#Nifty has supports at 22,100 and 21,900. #Nifty can rise to 22,600-22,700 this week. The chances of the rise extending even up to 23,000 cannot be ruled out. #Nifty has to break below 21,900 to become bearish for a fall to 21,500.
#NiftyBank index has resistance at 47,600. A break above it can take the #niftybank index up to 48,500-48,700. In case the #niftybankindex reverses lower from 47,600, then a fall to 46,000-45,000 can be seen.