Nifty may face stiff resistance at 9,500 level: Gaurav Garg of CapitalVia

As per weekly option data, handful of put writing on lower strikes ranging from 9,200 to 9,400 is seen which shows Nifty would witness firm support in sub 9,200 zone

Indices traded high as PM Modi announces stimulus package; Nifty closed below 9,500

Markets opened gap-up and traded with positive sentiment through-out day on Wednesday led by banking along with financial stocks. Nifty managed to close at 9,383.55 adding 187 points. PSU banks along with realty stocks traded with positive sentiments whereas Pharma and FMCG sector closed in red mark. Nifty bank closed at 19,635 adding 772.20 points from the previous day’s closing.
 

As per weekly option data, handful of put writing on lower strikes ranging from 9,200 to 9,400 is seen which shows Nifty would witness firm support in sub