Closing market commentary 16 June 2021 By Mr. Yash Gupta, Angel Broking Ltd
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Below are Quote on Closing market commentary 16 June 2021 by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
Investors become cautious before the FED meeting in the USA.
NIFTY closed at 15767, down by 101 points (-0.64%) and Bank NIFTY closed at 35003, down by 244 points (0.69%). From the opening trade, NIFTY was showing signs of caution ahead of the USA Fed meeting tonight as per the Indian time. In the 2nd half of the trading day the NIFTY showed some signs of strength but in the last 30 minutes the NIFTY lost more than 50 points. Today we have seen a broader market selling where even the defensive sectors like Pharma was down by 0.75%. Today's FED interest rate decision and projection commentary will be very important for emerging markets like India.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
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