ifty continues to maneuver up and is heading up in direction of 19,000 in step with our expectation. Nifty Financial institution index however appears to be struggling to realize momentum. Even Nifty is coming nearer in direction of a really essential resistance which may halt the present rally and set off a corrective fall. So, we should tone down our bullishness within the coming weeks.
Broadly, the Indian benchmark indices could possibly be coming near a pitstop.
Nifty has an important resistance at 19,100 the place the present rally can pause. A corrective fall to 18,600 will be seen earlier than a recent leg of upmove begins to focus on 20,000 ranges.
Nifty Financial institution has to maintain the bounce seen on Friday and breach 44,450 from right here. Solely then the rise to 45,000 and 45,500 will come again into the image.
Dow Jones has help at 34,200 and 34,000. It could rise to 35,500 on a sustained break above 34,500.
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