Nifty needs to hold 11,600 for further up-move: CapitalVia Global Research

As per weekly option data, huge call writing on higher strikes ranging from 11,700 to 12,000 is witnessed which shows Nifty would face resistance in the zone of 11,800

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Gaurav Garg New Delhi

2 min read Last Updated : Nov 02 2020 | 8:55 AM IST

Nifty outlook

Market traded with weakness through-out Friday amidst subdued global cues. Nifty closed above its immediate support of 11,600 at 11,642.40, slashing 28.40 points. Auto, private bank, FMCG stocks traded with negative sentiments whereas media, metal and reality sector closed with green mark. Nifty bank closed at 23,900.90, slashing 191.10 points from the previous day’s closing.

As per weekly option data, huge call writing on higher strikes ranging from 11,700 to 12,000 is witnessed which shows Nifty would face resistance in the zone of 11,800. The level of 11,600 will act as an immediate support as maximum put

Topics : Markets Nifty Outlook Market technicals Apollo Hospitals CDSL

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