Nifty has risen and closed higher last week in line with our expectation. We retain our bullish view on the #Nifty to see more rise from here.
NiftyBank on the other hand is struggling to rise. However, the index has strong supports that can limit the downside. So, we expect the #NiftyBank index also to catch up with the Nifty and see a fresh rise in the coming weeks.
The overall bias continues to remain positive for the Indian markets.
Nifty has supports at 19,600 and 19,400. We expect the #Nifty to rise to 20,300-20,400 over the next two-three weeks.
NiftyBank has support at 43,800 and 43,650. It can rise to 45,000 first and then to 46,300 in the coming weeks.
DowJones now has a range of 33,500-34,000. A breakout on either side of this range will determine whether the Dow Jones can rise to 34,400 or fall to 32,850.