Indian equity markets may see some turbulence this week. US Federal Reserve is expected to raise interest rates by 0.75% this week. Last week US equity markets saw their biggest decline in two years. Increase in US interest rate may cause some FPI outflows from Indian equity markets. Inflation in Britain fell marginally in August to 9.9% because of some decline in petrol prices.
On the technical front, Nifty 50 is likely to see support at 17,300. Resistance is likely to be seen at 18,000 level. Bearishness is expected in auto stocks and realty stocks.
A Buy call is being given on the stock of Sumitomo Chemical India Ltd for this week. Target price is 560. Stop Loss is 498.
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