Nifty and Nifty Bank have made a strong recovery last week. The support on the indices have held very well. The price action during the week indicates that strong buyers are coming into the market at lower levels. That leaves the outlook positive for the Nifty and Nifty Bank index for this week.
Nifty can rise to 22,800-22,830. A break above it can see an extended rise to 23,830 can see an extended rise to 23,100-23,200. Supports are at 22,300 and 22,000.
Nifty Bank index can rise to 49,500-50,000. Supports are at 47,500 and 47,000.
