Nifty saw a sharp fall last week. However, that has not changed the structure of the charts. The overall picture is still bullish. The price action on the daily charts of Nifty and Nifty Bank index last week indicates lack of strong follow-through selling and strength to break below their support. So, we remain positive and will be looking for a fresh upmove going forward.

So, the overall bias is still bullish.

#Nifty has immediate supports at 17,600 – 17,550. Below that 17,460 is a strong channel support. As long as these supports hold, #Nifty can target to 17,850 and 18,000.

#Nifty Bank index has support at 41,700 and is bullish to see 43,000 – 44,000.

#Dow Jones has support at 33,700. It can break 34,000 and rise to 34,500 – 34,700.