Nifty outlook & stock picks by Gaurav Garg: Buy Quess Corp, City Union Bank

Traders should try to create a long position keeping a close eye on 13,400

The market traded on a volatile note on Friday but managed to recover from intraday lows of 13,400, which is also the immediate support for this week. Nifty closed at 13,513.90, adding 35.60 points. Metal, FMCG and realty stocks traded with positive sentiments whereas stocks from the pharma and IT sectors closed in the red. Nifty Bank closed at 30,604.85, adding 94.55 points from the previous day’s closing.

As per weekly option data, significant put writing on lower strikes ranging from 13,200 to 13,500 is witnessed which shows Nifty might take support in the zone of 13,500 as maximum put