Nifty to find support in the zone of 12,100: Gaurav Garg of CapitalVia

We can witness short-covering move along with addition of fresh position only if Nifty breaches 12,300

Market traded higher for fourth straight session;12,100 is immediate support to look for
 

Market traded with strong bullish sentiments after US presidential elections, as US indices rallied more 7 per cent in past week. Nifty is likely to face support at 12,100 this week. Nifty closed at 12,263.50, adding143.20 points on Friday. Private banks, financial services and realty stocks traded with positive sentiments whereas pharma and FMCG indices closed with red mark with marginal loss. Nifty bank closed at 26,798.95, adding 485.85 points from the previous day's closing.

As per weekly option data, heavy put writing on lower strikes ranging