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Indices rallied due to short-covering ahead of monthly expiry; Nifty managed to cross 9,300
Market traded with positive sentiment on Wednesday and witnessed sharp short-covering in financial and banking stocks. Nifty managed to close above 9,300. It ended at 9,314.95, adding 285.90 points. Financials, private banks, and IT indices closed on a positive note, but Pharma and media stocks closed in the red. Nifty bank closed at 18,710.50, adding 995.92 points from the previous day’s closing.
As per the weekly option data, handful of put writing on higher strikes ranging from 9,000 to 9,300 is seen which shows Nifty would
