ur view of #Nifty breaking above 19,850 and rising to twenty,400 and better has gone fallacious. #Nifty has seen a pointy fall beneath 19,400 final week. That has turned the charts weak and the outlook bearish. So, the rise to twenty,000 and better is just not occurring now and there might be extra fall within the coming days.
Alternatively, we acquired the autumn to 42,000 on the #NiftyBank index proper. Though 42,000 is a robust assist for the #NiftyBank, it’s now essential for it to get a robust follow-through rise above 44,000 from right here. Else, the #NiftyBank index also can stay below strain to see extra fall.
General, the outlook is weak. #Nifty #nifty50 has sturdy resistances at 19,150-19,200 after which at 19,400-19,500. So long as these resistances maintain, the probabilities are excessive for the #Nifty #nifty50 to fall to 18,700-18,600 first after which to 18,300-18,200 finally within the coming weeks.
#NiftyBank index has an important resistance at 44,000. It has to see a sustained rise above this resistance. Else it can stay below strain to interrupt 42,000 and fall to 40,500-40,000.
#DowJones has resistance at 32,800-33,000. It might fall to 32,000-31,800 this week.
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