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Nifty & Sensex Weekly Wrap and Nifty Future Technical Front

Tags: nifty party rate

The ruling Party at the centre, the BJP, had put up a decent show in remaining three states polls viz. Uttarakhand, Manipur and Goa while it succumbed to Congress party in Punjab.The election results could provide a much needed boost to BJP to accelerate the pace of reforms, including the roll out of the crucial Goods and Services Tax (GST), slated to be implemented from 1 July 2017.

Among global news, US Federal Reserve raised interest rates as expected without accelerating its timeline for future tightening. The Fed raised its benchmark lending rate a quarter point and continued to project two more increases this year. Fed said that it would raise the benchmark federal-funds rate to a range between 0.75% and 1%.

Technical Front

On Nifty weekly chart strong resistance is seen at 9180. If it breaks with high volume, more bullishness is expected.

This post first appeared on CallPut Option Trading Strategies| Bank Nifty Tips, please read the originial post: here

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Nifty & Sensex Weekly Wrap and Nifty Future Technical Front


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