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Nifty could face resistance at 11,000 level: Gaurav Garg of CapitalVia

We might witness weakness only if Nifty breaks level of 10,700

As per weekly option data, handful of put writing on lower strikes ranging from 10,700 to 10,800 is seen
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As per weekly option data, handful of put writing on lower strikes ranging from 10,700 to 10,800 is seen

Gaurav Garg Mumbai
Market traded with positive sentiment on last Friday, July 17 and added short covering move in Nifty Bank in the last hour of trade. However, psychological mark of 11,000 might act as hurdle this week as it carries highest call OI in both weekly and monthly contract of July. Nifty managed to close at 10,901.70 adding 161.70 points. PSU banks, Financial servicesand Auto stocks closed with positive note, whereas technology stocks closed in red mark. Nifty bank closed at 21,966.80 adding 345.51 points.
 
As per weekly option data, handful of put writing on lower strikes ranging from 10,700 to 10,800

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First Published: Jul 20 2020 | 7:48 AM IST

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