Nifty Resistance Seen At 9,000-Mark
The Nifty 50 index on Wednesday closed little changed ahead of the Federal Reserve’s meeting to decide on its interest-rate policy. There was also only a marginal change in its September open interest.
Similarly, the Nifty Bank index declined marginally with less than 1 percent increase in its September open interest. Foreign institutional investors (FII) bought index futures worth Rs 444 crore on net basis. The India Volatility Index rose 0.2 percent to 14.8.
On the upside, the Nifty 9,000 call and 8,900 call the most amount of writing with each strike adding more than 4 lakh shares in open interest. At the lower end, the 8,700 put saw an addition of 5.7 lakh shares in open interest. Maximum open interest remained with 9,000 call and the 8,500 put.
FIIs took precautions by buying 23,938 index put contracts in net basis and unwinding 5,556 contract positions in index calls.