Nifty outlook & stock picks by Gaurav Garg: Buy Quess Corp, Coromandel Intl

Quess Corp's stock is forming bullish flag pattern on daily charts

Nifty outlook
 

Market traded lower amidst profit booking on Friday as global sentiments were subdued along with spike in Covid-19 cases domestically, which pushed index lower. Nifty closed at 14,631.10, slashing 263.80 points. Banks, financial and FMCG stocks traded with negative sentiments whereas Pharma sector closed in the green. Nifty bank closed at 32,781.80, losing 932.70 points from the previous day’s closing.

As per weekly option data, significant call writing on higher strikes ranging from 14,700 to 15,000 is witnessed, which shows Nifty might take resistance in the zone of 14,800 as maximum call OI placed here after 15,000.