The market following the global cues was down near 2% today.
Nifty 5380 (down 105) and Sensex 17990 (down 360).
In general all counters were down - specially the bank stocks - down by over 2% in general.
Looks like the market is factoring in the expected rate increase by RBI in June .
The selling by FII continues - nobody seems to be confident .
If the support @ 5350 for Nifty breaks tomorrow - then we can expect the market to go much lower in the next few weeks .
Since there is only 3 days for F&O expiry - one can expect fair amount of volatility - the range now is 5250 to 5550.
Nifty 5380 (down 105) and Sensex 17990 (down 360).
In general all counters were down - specially the bank stocks - down by over 2% in general.
Looks like the market is factoring in the expected rate increase by RBI in June .
The selling by FII continues - nobody seems to be confident .
If the support @ 5350 for Nifty breaks tomorrow - then we can expect the market to go much lower in the next few weeks .
Since there is only 3 days for F&O expiry - one can expect fair amount of volatility - the range now is 5250 to 5550.
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