Nifty outlook and top trading ideas by CapitalVia Global Research Limited

Traders should try to buy any dip at higher levels as Nifty has maximum put OI at 12,000 which will act as major support levels for the weekly expiry

Market traded higher on Wednesday; Nifty likely to touch 12,270 if sustains above 12,000

Market traded with positive sentiments on strong global cues along with expectation of announcement of scrap policy on automobiles. Nifty closed at 12,100.70 adding 63 points. PSU banks, automobile, and metal stocks traded with positive sentiments throughout the day and gained the most among indices. Nifty bank closed at 31,876 adding 157.70 points to the previous day’s closing and closed at record all-time high.

As per weekly option data, handful of Put writing on lower strikes ranging from 12,000 to 12,100 which shows Nifty is witnessing