Biz Journal

Markets witnessed profit booking at higher level; Nifty facing stiff resistance at 9,000

Market traded with negative sentiments in the second half of Wednesday’s session due to weaker global cues, which triggered selling pressure in broader indices. Nifty managed to close at 8,748.75, slashing 43.45 points. Pharma, Automobile and media sectors traded with positive sentiments whereas reality, technology sector closed in the red. Nifty bank closed at 18,946.50, down 173.25 points from the previous day’s closing.

As per the weekly option data, handful of call writing on higher strikes ranging from 8,800 to 9,200 is seen which shows that Nifty would face stiff resistance in sub 9,000 zone..8,000 will act as support as maximum put open interest (OI) is placed here. But the index is likely to face stiff resistance at 9,000 as maximum call OI is placed here. We can witness

China on Tuesday reported no new coronarivus-related deaths in 24 hours, and the 32 new reported cases were all in people who returned from overseas. The country from where the coronavirus outbreak started, has so far recorded 81,740 cases and 3,331 deaths linked to the virus. Its number for daily new deaths has been hovering in single digits for weeks now — just one on many days.

Let’s look at the global statistics:

Total confirmed cases: 1,280,046

Change over the previous day: 79,352

Total deaths: 75,945

Total recovered: 291,991

Nations hit with most cases: US (368,449), Spain (140,510), Italy (132,547), Germany (103,375), and France (98,984).

Source: Johns Hopkins Coronavirus Research Center

Boris Johnson moved to ICU: UK Prime Minister Boris Johnson was taken into the intensive care unit