Nifty outlook and top trading ideas by CapitalVia Global Research Limited

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

Market witnessed profit booking at higher levels; Nifty likely to take support at 12,200

Market traded with negative sentiments on Tuesday on mixed global cues. The Nifty closed at 12214.50, shedding 48.30 points. Metal, realty, and pharma stocks traded with positive sentiments throughout the day and gained the most among indices. Nifty bank closed at 32,280.80, down 181.40 points from the previous day’s close.

As per weekly option data, handful of call writing is seen on higher strikes ranging from 12,250 to 12,300 which shows Nifty is witnessing stiff resistance in sub-12,300 zones. Call writing on higher strikes ranging from