Support- 16350-16400 Resistance- 16750-16800 10 yr bond yield | Stock Shiksha
Support- 16350-16400 Resistance- 16750-16800
10 yr bond yield(India) has breached 3.5 years high ahead of RBI policy meeting. This is signaling steep rate hikes ahead. In US, 10 year bond yield has spiked again and now trading above 3 percent. Next week Fed officials will meet to hike rate. Upside in bond yield negative trigger for market, limiting upside. FIIs are still selling amid rising volatility.
Technically, Nifty is trading in a tight range. 16350-16400 is support zone and 16750-16800 is resistance zone. Buy near support and sell near resistance should be the strategy for today. Positional traders should wait and watch for range breakout for fresh trade.
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