The Indian markets were volatile last week. The price action last week indicates that the #Nifty and #NiftyBank indices are struggling to get strong buyers. So, we prefer to remain cautious rather than being overly bullish at this point of time. Overall, there is a broad range visible on the charts. Within this range, the bias is slightly negative to see a fall going forward.
The #DowJones on the other hand is looking relatively bullish.
#Nifty can trade in a range of 21,200 to 22,150. Within this range we see high chances for the #Nifty to fall towards 21,200 – the lower end of the range.
#NiftyBank index can oscillate in a wide range of 43,800 to 47,100.
#DowJones looks bullish in the near-term. It has an immediate support at 38,500. The #DowJones can rise to 39,300-39,400 in the near-term. Thereafter the price action will need a close watch for a reversal.