Nifty ended at 9,897 level, up by 103 points while Sensex ended at 31,770 level, up by 321 points on Wednesday. There were 1,111 advances, 535 declines and 311 unchanged stocks on NSE, reflecting strong positive sentiments floating in the market.
Nifty50 index, on the daily technical charts, formed a strong bullish candle. It also formed higher highs and lower lows for the past two straight sessions. The index has resistance placed in the region of 9,925-9,930, and if it holds above this resistance zone, the next resistance is placed in the region of 9,960-9,970. On the downside, support is seen at the level of 9,850 and the next support is placed around the level of 9,830.
On the Options front, maximum Put open interest was seen at 9,800 level which was earlier at the strike level of 9,500, while maximum Call OI stood at 10,000 followed by 10,100.
Upward movement of the index is supported by the significant Put writing at strike prices 9,800, 9,900, 9,700 and 9,600, while Call unwinding was seen at strike prices 9,700, 9,900 and 10,050. This could make room for the Nifty50 to head towards the psychologically important 10,000 mark.
Nifty futures of August series was trading at 9,907 level at a premium of 10 points. It had closed at a premium of 21 points in the previous trading session..
Nifty50 index, on the daily technical charts, formed a strong bullish candle. It also formed higher highs and lower lows for the past two straight sessions. The index has resistance placed in the region of 9,925-9,930, and if it holds above this resistance zone, the next resistance is placed in the region of 9,960-9,970. On the downside, support is seen at the level of 9,850 and the next support is placed around the level of 9,830.
On the Options front, maximum Put open interest was seen at 9,800 level which was earlier at the strike level of 9,500, while maximum Call OI stood at 10,000 followed by 10,100.
Upward movement of the index is supported by the significant Put writing at strike prices 9,800, 9,900, 9,700 and 9,600, while Call unwinding was seen at strike prices 9,700, 9,900 and 10,050. This could make room for the Nifty50 to head towards the psychologically important 10,000 mark.
Nifty futures of August series was trading at 9,907 level at a premium of 10 points. It had closed at a premium of 21 points in the previous trading session..
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