The Indian market snapped its five-week fall last week. The price action on the charts indicates a strong base formation. It gives an early signal that the correction could be coming to an end. So, we can expect the #Nifty to resume its overall uptrend going forward.
Overall, the bias is turning bullish.
#Nifty is holding well above 19,200. It can rise to 19,850-20,000 in the short-term. A break above 19,500 can trigger this rise.
#NiftyBank index is looking unclear. 43,700 – 45,000 can be the trading range. A breakout on either side of this range will determine the next move. We will have to wait and watch.
#Dow Jones is looking bullish. It can rise to 36,000-36,500 in the coming weeks. A break above 35,000 can trigger this rise.