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11,500 to act as immediate support for Nifty: Gaurav Garg of CapitalVia

As per weekly option data, huge call writing is witnessed on higher strikes ranging from 11,700 to 12,000 which shows Nifty is going to face resistance at 11800

Traders should try to create long position keeping close eye on 11,600
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Traders should try to create long position keeping close eye on 11,600

Gaurav Garg Mumbai
Market trade lower ahead of monthly expiry, Nifty likely to hold 11,600
 
Market traded with weakness throughout the day amid subdued global cues. Nifty closed at its immediate support of 11,700. The index managed to close at 11,729.60, slashing 159.80 points. Banking, realty, and pharma sector traded with negative sentiments as none of the sectors closed with green mark. Nifty bank closed at 24,232.50, slashing 537 points from the previous day's closing.
 
As per weekly option data, huge call writing is witnessed on higher strikes ranging from 11,700 to 12,000 which shows Nifty is going to face resistance at 11800.The

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First Published: Oct 29 2020 | 8:12 AM IST

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