Dow Jones recently rebounded from the critical psychological support at 34,000, shaping the Bullish Bat Harmonic pattern on its daily chart. The bulls can look for long with the stop-loss below 33,900.
Nifty bulls are currently relying on the support range of 19,200-19,270, and a successful defense of this zone could potentially pave the way for reaching 19,600 levels this week, while a breakdown below the support may lead to a test of 19,000 levels.
The momentum of Nifty could be significantly influenced by the movement of Reliance Industries, as the company's stock is currently trading at a critical do-or-die technical level of 2,400.
Bank Nifty is displaying indications of bullish momentum, with potential to reach the 45,000 levels before expiry; however, the trend could reverse if the support at 44,189 is breached.