 "Nifty would face resistance in sub 8,800 zone, while 9,000 will act as a strong resistance")
Market trades lower as coronavirus fear deepens; Nifty at 3-year low
Market traded with volatility after a gap-up opening on Wednesday, but failed to sustain at higher levels, as coronavirus fear deepened. Nifty hit its 3-year low and managed to close at 8468.80 slashing 498.25 points. Rupee remained weak and closed at 74.295. Private banks, financial services sector traded with negative sentiments whereas media stocks traded with green mark. Nifty bank closed at 20,580.20 slashing 1574.95 points from Tuesday’s closing.
As per weekly option data, handful of call writing on higher strikes ranging from 8,600 to 9,000 is seen which
