Sensex and Nifty sinks on rate hike jitter on 15th June. The Sensex fell 176 points to close at 18132 and the Nifty stood at 5447.50, down by 53 points. Expected interest rate hike fears led the investors to book profits.
Market sinked on rate hikes jitter today rate sensitive shares witnessed selling pressure due to the upcoming RBI policy which is coming tomorrow on 16th june . Second reason can be the share market responded to the inflation hike which is9.06% for the month of may so the market is still under the inflation catch.
In upcoming trading session there is higher possibility that nifty spot manages between narrow range of 5410 - 5495and if it breaks the level 5410 then it would be go down and next support would be 5360 and if it breaks the level 5495 then would go higher and next resistance would be 5550 i.e nifty would vary between broad range of 5360 - 5550.
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