 "We can witness short-covering move along with addition of fresh position only if Nifty breaches 12,000")
Market trade with volatility on Wednesday, Nifty likely to hold 11,800
Market traded with huge volatility ahead of weekly expiry on subdued global cues. Nifty closed above 11,900, which is also the immediate support to look for. Nifty managed to close at 11,937.70, adding 40.90 points. Banking, metal,and realty sector traded with positive sentiments whereas technology and FMCG sector closed in the red. Nifty bank closed at 24,635, adding 323.20 points from the previous day's closing.
As per weekly option data, handful of put writing on lower strikes ranging from 11,600 to 11,800 is witnessed which shows Nifty would face
