Nifty outlook and top stock picks by CapitalVia: Buy Vedanta, HUL

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

Markets traded with positive sentiments on Friday as bulls took charge; Nifty settled above 12,200
 

Market opened with positive note and remained trending throughout the session which pushed nifty above 12,250 on January 24, and closed at 12,248.30 adding 67.90 points. Metal, Media and FMCG stocks traded with positive sentiments through the day whereas, pharma and IT stocks witnessed pressure on Friday session. Nifty bank closed at 31,241.80 adding 226.79 points from the previous day’s closing.
 

As per weekly option data, huge put writing on lower strikes ranging from 12,000 to 12,200 is observed which shows Nifty is witnessing strong