Nifty has declined last week while the Bank Nifty was broadly stable, and range bound. Bank Nifty is relatively looking more positive than the Nifty. The outlook for the Nifty is also bullish. But Nifty can see some more dip before resuming the overall uptrend.

Nifty can rise to 18,600-18,700 initially and then to 19,000 eventually over the medium-term. This rise can happen either from here itself if it breaks above 18,300. Else a dip to 18,000-17,900 can be seen before the rise to 18,600-18,700 happens.

Nifty Bank can rise to 45,000-45,500. It has supports at 43,250 and 43,000.

Dow Jones has to break above 33,800 to become bullish and rise to 34,300. Else a fall to 32,700 and 32,500 cannot be ruled out.