The Indian equity markets have moved up well last week while the US indices fell. The domestic markets are showing good divergence from the US markets. This is a positive.
Overall, the trend is still up. The Indian markets are looking bullish while the US is slightly unclear.
Nifty and Nifty Bank have closed the week on a strong note and can rise further going forward.
Nifty has an immediate support at 18,200 and then in the 18,000-17,800 region. Outlook is bullish to see 18,550-18,600 in the near-term.
Bank Nifty can rise to 44,500-44,600. It has supports at 43,250 and 42,820
Dow Jones is unclear. It can either sustain above 33,000 and rise from here itself or fall to 32,500 first and then see a fresh leg of upmove.
Read the full Index outlook here
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.