The support that we had mentioned last week on the #Nifty, #NiftyBank / #Banknifty and the #DowJones have held very well. All the three indices have risen back very well after testing those supports. This is easing the downside pressure. The danger of seeing more fall has reduced. We expect the #Nifty and #NiftyBank index to get a strong follow-through rise in the coming week.
The Indian benchmark indices are looking relatively much stronger than the US.
#Nifty has resistances near 19,800 and 19,900. A break above 19,900 can take the #Nifty up to 20,300
#NiftyBank has resistance at 45,000. A break above it will see the #NiftyBank index rising towards 46,300.
#DowJones has cluster of resistances from current levels up to 34,500. It has to breach 34,500 to become convincingly bullish for a rise to 36,000.