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Support- 15680-15700 Resistance- 15900-16000 Now in US analys | Stock Shiksha

Support- 15680-15700
Resistance- 15900-16000

Now in US analysts are expecting more hawkish stand by Federal Reserve. Some are expecting 1% hike in interest rate which well above 0.5% hike expectation by majority. This is spooking global market. Indian CPI data came at 7.04% which is below of May data. All eyes are focused now on FOMC meeting in US which will publish monetary policy tomorrow late night.

Technically, 15700 is major support for today. Closing below 15700 will be breakdown of inverted cup and holder pattern. Buyers can go for buy near support with stop loss below 15600. Sellers can sell near given resistance area. Keep strict stop loss amid high volatile session.

PCR is at 0.7 for Nifty and FIIS net position in index is at 12%. Both data indicating oversold market