Strong support exists for Nifty at 10,900: CapitalVia Global Research

A short-covering move, along with addition of fresh position, is seen only if somehow Nifty sustains level of 11,200

Nifty reclaims 11,000 mark
 

Markets traded with bullish mode on the first day of October series on firm global cues. Volatility Index, India VIX, dropped 12.06 per cent and closed at 20.6750, which shows some relief to bulls as volatility is likely to come down. Nifty managed to close at 11,050.30, adding 244.80 points. IT, Auto, and private banks along with financial stocks traded with positive sentiments whereas no index closed in the red. Nifty bank closed at 20,982.35, adding 525.50 points from the previous day’s closing.

As per weekly option data, handful of put writing on lower strikes ranging