Nifty outlook & trading ideas by CapitalVia: Buy HDFC AMC, Glenmark Pharma

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

Market trades lower on Friday, Nifty likely to take support at 8,000

The market traded with negative sentiment and witnessed weakness throughout the trading session on Friday. Weaker global cues and elevated crude prices triggered selling pressure in broader indices. Volatility index came lower by 8.38 per cent, which shows some relief to bulls as volatility is further likely to come down. Nifty managed to close at 8,083.80, slashing 170 points. Pharma and FMCG sectors traded with positive sentiments whereas private banks and technology sector closed in the red. Nifty bank closed at 17,249.30, slashing 365.85 points from the previous