Daily levels and market predictions : 17 june 11

Sensex and Nifty sinks on rate hike and negative europeon cues. The Sensex fell 146.36 points to close at 17,985.88   and the Nifty stood at 5,396.75, down by -50.75  points.

RBI hiked interest rates by 25bps today for the 10th time in 16 months as it struggles to tackle the rising inflation.  These rates are increased to tame the increased inflation in the market. Rates sensitive shares are expected to be on selling pressure. The May inflation rate stood at 9.06%

Nifty Spot Levels  

Support 1: 5360

Support 2: 5310

Resistance 1: 5415

Resistance 2: 5455

Bank nifty  futures level

Support 1: 10500

Support 2: 10350

Resistance 1: 10700

Resistance 2: 10825