Nifty needs to hold 14,100 to remain in uptrend: Gaurav Garg of CapitalVia

We can witness profit booking only if Nifty breaks level of 14,000. Therefore, traders should try to create long position keeping close eye on 14,000

Market traded with volatility but managed to recover from intra-day lows of 14,040.10 on Wednesday after the Nifty50 index witnessed sharp correction early on. Nifty closed at 14,146.30, slashing 53.20 points. However, market breadth seems to be in favor of the bulls. Metal, realty & financial services stocks traded with positive sentiments whereas IT, FMCG and pharmaceutical stocks closed with red mark. Nifty bank closed at 31,797.90 adding 75.60 points from the previous day's closing. 
 

As per weekly option data, significant call writing on higher strikes ranging from 14,200 to 14,300 is witnessed which shows Nifty might take resistance in