Here's why Gaurav Garg of CapitalVia is bullish on the HDFC twins

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

Indices rallied due to short-covering ahead of monthly expiry; Nifty managed to cross 9,300

Market traded with positive sentiment on Wednesday and witnessed sharp short-covering in financial and banking stocks. Nifty managed to close above 9,300. It ended at 9,314.95, adding 285.90 points. Financials, private banks, and IT indices closed on a positive note, but Pharma and media stocks closed in the red. Nifty bank closed at 18,710.50, adding 995.92 points from the previous day’s closing.

As per the weekly option data, handful of put writing on higher strikes ranging from 9,000 to 9,300 is seen which shows Nifty would