Nifty is likely to trade in a narrow range with immediate resistance
placed at the level of 9,940, followed by 9,980-10,000, and if it
sustains above these levels, it is likely to move higher up to the level
of 10,080. On the down side, 9,860 and 9,810 may act as strong support
levels.
US bourses witnessed higher closing after the President Donald Trump agreed to support a measure that would raise the debt ceiling and fund the government for three months. Asian peers were also trading in the positive terrain.
On the derivatives front, Nifty September future closed at a premium of 19.15 points as compared to a premium of 19.40 points in the previous trading session.
US bourses witnessed higher closing after the President Donald Trump agreed to support a measure that would raise the debt ceiling and fund the government for three months. Asian peers were also trading in the positive terrain.
On the derivatives front, Nifty September future closed at a premium of 19.15 points as compared to a premium of 19.40 points in the previous trading session.
On the options front, Nifty Sep 9800 PE has witnessed an addition of
4.10 lakh shares in open interest and 9700 PE has maximum open interest
of 46.83 lakh shares. While Nifty September 9950 CE has seen an addition
of 2.49 lakh shares in open interest with maximum open interest in
Nifty September 10,000 CE of 43.27 lakh shares. There is selling
pressure at these call strikes, reflecting stiff upside resistance at
10,000 level.
Nifty ended at 9,916 level, down by 36 points and Sensex ended at 31,661 level, down by 147 points on Wednesday. Negative cues from the US bourses and Asian peers led to the fall in major indices in the market on Nifty and Sensex in the previous trade..
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