Nifty Outlook and trading ideas by CapitalVia: Buy Tech Mahindra, HCL Tech

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

Markets ends lower after witnessing major profit booking on weaker global cues: Closes below 11,500  
 

Markets witnessed profit booking on Wednesday after Nifty rallied more than 10 per cent in the last three trading sessions after government’s big relaxation on slashing corporate tax. The index, however, failed to hold the 11,500 level and closed at 11,440.20, shedding 148 points. Apart from IT, all the indices closed in the red. Nifty Bank closed at 29,586.05 i.e., 503.62 points lower from the previous day’s closing.
 

As per option data for the next week, 11,500 level will remain critical as highest put and