The Dow Jones Industrial Average in the US was beaten down badly last week. The uncertainty on Trump’s tariff policy kept the markets under pressure. However, Nifty 50 has managed to stay afloat. The Dow Jones looks bearish with a double top formation on the chart. There is room for the Dow jones to fall more from here. So, that can keep the Indian markets subdued going forward. Will the Nifty continue to stay stable? We will have to wait and watch
Dow Jones can see a corrective rise to 42,000-42,100. But thereafter it can fall to 40,000 and even 38,500.
Nifty can remain in a range of 21,950 and 22,650. A breakout on either side of this range will decide whether the Nifty can rise to 23,000-23,200 or fall to 21,700-21,500.
Nifty Bank index has support at 47,700 and resistance at 49,000. A breakout on either side of 47,700-49,000 will decide whether the index can go up to 50,000-50,200 or fall to 47,000-46,600
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