Expect volatility, but Nifty can hit 9700 levels: Angel Broking

Good build-up was seen in 9400 to 9600 put options on Wednesday

The benchmark index ended Wednesday's session on a flat note and traded in a very tight range of merely 40 points throughout the day. In the later half, Nifty clocked a new record high of 9649.60; however, some selling emerged thereafter, guiding benchmark index (Nifty) to close with marginal cut. In F&O front, Nifty added good amount of positions; while, we hardly saw any relevant change in BankNifty open interest. Large cap counters like IOC, ICICIBANK, M&M, GAIL, INFRATEL and HDFC added huge open interest in today’s trading session.

As far as Nifty Options activity is concerned, good amount of build-up