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Nifty traded with positive sentiments on firm global cues; Likely to face resistance at 10,500
Markets traded with positive sentiment on Wednesday on firm global cues. Banking and financial stocks rallied sharply, gaining momentum through short-covering which helped the index post a close above 10,400, which looks promising for the bulls. Nifty managed to close at 10,430, adding 127.90 points. Private Banks, PSU Banks and financial stocks closed on a positive note, whereas realty and Pharmaceutical stocks closed in the red. Nifty bank closed at 21,977.60, adding 498.65 points from the previous day’s closing.
As per the weekly option data, handful of
