Immediate support for Nifty moves upward to 9,970-9,980

Nifty ended above the important mark of 10,000 for the first time after August 7, 2017. Nifty closed at 10,006 level, up by 71 points, while Sensex closed at 31,882 level, up by 194 points.
 
Private bank stocks like IndusInd Bank, Yes Bank and HDFC bank were the top contributors to the gains of major indices, Nifty and Sensex.
 
Finally, the Nifty50 index manages to pierce its strong resistance of 9,980-10,000 on closing basis, now going forward buying momentum is likely to continue. On the upside, the level of 10,060 and 10,080 may act as a resistance zone, whereas, on the downside, the level of 9,970-9,980 may act as an immediate support zone.
 
Nifty September future ended at a premium of 19.85 points as compared to a premium of 15.20 points in the last trading session. On the options front, Nifty September 10,000 PE has seen addition of 10.31 lakh shares in open interest while Nifty September 10200 CE has seen addition of 4.95 lakh shares in open interest.
 
However, the maximum open interest is seen in Nifty September strike 9900 PE of 56 lakh shares and 10200 CE of 36.56 lakh shares.