Nifty outlook and top trading ideas by CapitalVia: Buy TCS, HCL Tech

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

Market recovered from lower level; Nifty needs to hold 11,500 for further upside
 

Markets traded with volatility on October 24 but recovered smartly from day’s low of 11,490.75 and Nifty managed to hold 11,500 and this will act as crucial support for the Diwali truncated week. Surprisingly, SBI Q2 results impacted market which in turn helped market to close in the positive territory.
 

As per monthly option data, handful of Put writing on strikes can be seen ranging from 11,450 and 11,600 which shows Nifty likely to take support in this zone. But call writers were active on higher strikes