Nifty outlook and top stock picks by CapitalVia Global Research: Buy SRF

Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor

Market traded lower for sixth consecutive trading session; Nifty needs to hold 11,500
 

Market traded lower on monthly expiry day as markets traded with high degree of volatility due to weaker global cues over coronavirus. The Nifty closed at 11,633.30, shedding 45.20 points. Media, PSU banks, and IT stocks traded with negative sentiments whereas Pharma and FMCG stocks traded with strength. Nifty bank closed at 30,187, slashing 119.85 points from the previous day’s closing.
 

As per weekly option data, huge call writing on higher strikes ranging from 11,700 to 11,900 is seen which shows Nifty is witnessing resistance in sub