#Nifty50 broke above the key resistance level of 22,150 but did not get a strong follow-through rise. #BankNifty also broke above 47,100 but failed to sustain. Charts are looking relatively more positive for the short-term with strong supports for both the #nifty and #niftybank. So, we can expect both the #Nifty and #NiftyBank index to move further up in the short-term. But at the same time, we prefer to remain cautious as well.

#Nifty has supports at 22,150, 22,000 and 21,800. If it manages to sustain above 22,000, #nifty50 can rise to 22,600-22,700. #Nifty will fall to 21,500 and 21,000 only if it breaks below 21,800.

#NiftyBank index has supports at 46,400 and then at 46,200-45,900. A bounce from either of these supports can take the #niftybankindex up to 47,500. A break below 45,900 is needed to turn the outlook negative for a fall to 45,000 and 44,500.