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