Nifty's major support at 9,000 for weekly expiry: Gaurav Garg of CapitalVia

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

Indices failed to move higher despite Repo Rate reduction of 40 bps; Nifty defends 9,000

Markets traded on Friday in a range and with weakness. Sell-off was witnessed in financial and banking stocks. But, the Nifty managed to somehow defend the 9,000-mark. Nifty managed to close at 9,039.25, slashing 67 points. IT, media and pharma indices closed on a positive note, but financial services and banking stocks closed in the red mark. Nifty bank closed at 17,278.20, slashing 456.20 points from the previous day’s closing.
 

As per the weekly option data, handful of call writing on higher strikes ranging from 8,800