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Market traded lower on Friday; Nifty facing stiff resistance at 12,000
Market traded with negative sentiments on Friday as it witnessed profit booking on higher levels despite strong global cues. Nifty closed at 11,914.40 shedding 54 points. Media, metals and automobile stocks traded with positive sentiments through the day and gained most among indices. Nifty Bank closed at 31,111.60, losing 238.40 points from the previous day’s closing.
As per weekly options data, a handful of Put unwinding on strikes ranging from 11,900 to 12,100 shows Nifty is witnessing weakening support in the zone of sub-11,950. Call writing on higher strikes ranging
