Nifty strength only above 9,000 level: CapitalVia Global Research

Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor

Market witnessed sharp profit booking at higher level; Nifty facing stiff resistance at 9,200

Indian market traded with negative sentiments in second half of Wednesday's session due to weaker global cues, which triggered selling pressure in broader indices. Nifty managed to close at 8,925.30, slashing 68.55 points. FMCG, realty and media sectors traded with positive sentiments whereas financial services and private banks closed in the red. Nifty bank closed at 19,057, slashing 431 points from the previous day’s closing.
 

As per the weekly option data, handful of call writing on higher strikes ranging from 9,000 to 9,500 is seen, which shows