It was a volatile week for the #Indianstockmarket last week. #Nifty50 and #Niftybank index witnessed a sharp fall on Wednesday but then managed to recover some of the loss later. #Dowjones on the other hand managed to stay higher stable last week. #nifty50 and the #dowjones are looking relatively more positive than the #niftybank index.
#Nifty has supports at 21,250 and then near 21,000. If it sustains above these supports, #nifty can rise to 21,650 first and then 21,800. The level of 21,800 is a very strong resistance. Failure to break this resistance can trigger a corrective fall.
#NiftyBank index has strong resistance in the 48,000-48,200 region. It must break above 48,200 to become bullish and rise to 49,000. Else, there is a danger the #niftybank index falling back to 47,000 and even 46,400.
#DowJones has support at 37,300 and 37,100. Outlook is bullish to see a rise to 38,000-38,200. From a big picture, the upside is open for the #dowjones to target 39,000 in the coming weeks.
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