Support- 15600-15650 Resistance- 15850-15900 Yesterday, Fed c | Stock Shiksha
Support- 15600-15650 Resistance- 15850-15900
Yesterday, Fed chairman again said Fed's first priority is to get inflation under control and in the process to tighten the policy economy could take hit. GDP data for US came at -1.6% which is negative for global market amid rising inflation. Crude fell from high yesterday which is positive for the market. Chinese PMI data came at 50.2 which is lower than estimation. Metal stocks will react positively(possibly).
Technically, 15600-15650 is support zone for today where traders can go for buy with stop loss below 15600. On higher side, 15850-15900 will be resistance zone where we should sell with stop loss above 15920.
FIIs long position stands at 16% in index which oversold. PCR data on expiry day is irrelevant. Short covering can be seen in the last hour today.
We are not SEBI registered investment advisors. Whatever we share here, has sole purpose of knowledge sharing. Profit and loss is subject to market risk and trader himself has to bear the risk....
