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Nifty outlook and two stock ideas by Gaurav Garg of CapitalVia Research

We can witness a short-covering move along with the addition of a fresh position only if Nifty breaches 13,000.

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For REC Ltd, further buying momentum might be witnessed if the stock moves above Rs 117.

Gaurav Garg Mumbai
The market traded with strong bullish sentiments on strong global cues. Nifty Bank surged close to 2 per cent, which helped the index to close at a record high. Nifty is likely to get firm support at 12,800 ahead of weekly expiry. Nifty closed at 12,938.30 adding 64.10 points. Auto, private, and PSU banks along with realty stocks traded with positive sentiments whereas pharma and FMCG stocks sector closed in the red with 1 per cent of loss. Nifty Bank closed at 29,749.80, adding 568.50 points from the previous day’s closing.

As per weekly options data, heavy put writing on lower

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First Published: Nov 19 2020 | 8:05 AM IST

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