Nifty : Index closed with gains on consecutive fourth week and sustained above major support level of 22300 in short term. Going forward for the index, which is in uncharted territory, further move likely trigger above 22637 which remain important level to watch for. With support around 22300, 22000-21900 should remain major support levels on weekly timeframe to remain in current momentum. Recent rally seems to be little exhausted with major shorting from last week volatility. Cautious approach with levels to keep watch.

BNF : After extreme volatile move in previous week, index rallied in upside directional move closing positive on fourth consecutive week, Index remain positive with interim resistance around 49K and support 47300. Any big move likely beyond these levels, extending the further upside move above 49K and index may fall below 47300. Momentum is extreme Bull as per data, with cautious move.