Watch out! 11\,562 level on Nifty could prove make or break point

Mumbai: Bulls appear to have regrouped on Tuesday to have a shy at the 11,562 level of Nifty, which is key to the index testing 11,625 and subsequently the September 9 high of 11,794.

Option writers covered their short call positions on weekly Nifty, while others wrote put options at 11,500 and 11,400 levels.

The immediate range of the index based on the value of the 11,500 weekly straddle is 11,375-11,625.

The NSE Nifty gained 81.75 points, or 0.71 per cent, to finish at 11,521.80 on Tuesday. The BSE Sensex ended with a gain of 287.72 points, or 0.74 per cent higher, at 39,044.35. The rally in mid- and small-cap stocks continued with the indices gaining almost 1.5 per cent.

“A conclusive break above 11,562 is a must for the index to rise,” said Hormuz Mali, director, AFco Investments. “11,550 and above is a congestion zone for now.”

The Nifty weekly put-call ratio rose to 1.08 from 0.88 Monday.

The weekly Bank Nifty, which was heavily oversold, saw the open interest PCR jump to 0.82 from 0.58 Monday.

Foreign investors have net sold shares worth 453 crore in the month through September 11, NSDL data show.

Watch out! 11\,562 level on Nifty could prove make or break point

Pfizer Says Late-stage Coronavirus Vaccine Study Shows Moderate Side Effects

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Pfizer Says Late-stage Coronavirus Vaccine Study Shows Moderate Side Effects

Representational Image: Reuters

Representational Image: Reuters

Pfizer Inc said on Tuesday participants were showing mildtomoderate side effects when given either the company's experimental coronavirus vaccine or a placebo in an ongoing latestage study.

  • Last Updated: September 16, 2020, 8:35 AM IST

Pfizer Inc said on Tuesday participants were showing mild-to-moderate side effects when given either the company’s experimental coronavirus vaccine or a placebo in an ongoing late-stage study.

Over 12,000 study participants had received a second dose of the vaccine, Pfizer executives said on an investor conference call.

The company has enrolled more than 29,000 people in its 44,000-volunteer trial to test the experimental COVID-19 vaccine it is developing with German partner BioNTech.

Pfizer said it was continuously scrutinizing the safety and tolerability of the vaccine in its study.

An independent data monitoring committee could recommend pausing the study at any time, but has not done so till date, the company said.

The comments follow rival AstraZeneca’s COVID-19 vaccine trials being put on hold worldwide on Sept. 6 after a serious side effect was reported in a volunteer in Britain.

AstraZeneca’s trials resumed in Britain and Brazil on Monday following the green light from British regulators, but remain on hold in the United States.

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