Broader outlook for Dec 28th

Om Namashivaya :

Since last 6 trading days we are seeing market going up on one day and down on other day. FII's were sellers of 112 crores where as DII's have bought of 8 crores on 24th. I do not expect to many moves in Nifty as we are at fag end of the year, but we can see stock specific moves.

I dont want to give prolonged explanation as I feel not much is required as we are at fag end of the year. What I want to say is 7880 should be taken out for 7940 and 7980 and 8020 on the other side 7820, 7770 and 7700 levels should be looked after. Nifty now above 20 MA and below 50 MA which is at 7930 levels and I feel that area is key.

Option data is indicating closing between 7850 and 7950 and let us wait and watch. We are seeing similar pattern in BankNifty, but what is key is 16700 is holding and on the higher side 17000 will as resistance.

For the day as indicated we could open flat and I dont see big moves today and feel 7880 as resistance and 7840 as support.

Top picks are Relinfra,Biocon,SunTV,Jublfood,BEL,CenturyText, Relcap,Ajantha,CESC,BhartiAirtel,Zeel and Titan.

Broade outlook for Dec 23rd

Jai Ganesha:

Same script, one day up and second down and so market is going no where. Global market are weak early in the day and Indian markets have corrected. Volumes are low as expected because of holidays in global markets. FII's bought 169 crores and DII's bought 238 crores. Rupee closed at 66.32.

Nifty is still in a range with upper ceiling being 7840 and lower being 7750. I feel we may continue to trade in this range. Please stay away from market for positional trades for next one week ideally till new year starts. BankNifty is showing weakness and is also trading in a range. Option data is still showing highest OI in 7500 Puts and 8000 Calls.

For the day I feel 7800 will act as support and 7845 will acts as resistance and so breaching this level will give moves, but I suggest to keep away from market for next few trading days.

Top picks for the day are Arvind,MCX,Ceat,AxisBank,Bharatforge,BEL, Idea, Hexaware,TCS,PNB and HindZinc

Option Data Analysis

Option Data Analysis

Option data has seen lot of action as bears are liquidating their positions with highest unwinding seen in 7800 Calls and also to some extent in 8000 Calls which continues to hold highest OI where as 7800 Puts has seen highest addition of OI which is nearly 20% increase, but 7500 Puts still has highest OI. This is indicating action in the money options as we are moving towards expiry and also I feel the range is getting narrower.

Broader Outlook for market - Dec 21st, 2015

Jai Hanuman:

Nifty recovered what it lost on Friday and one of the reason is Rupees strength and value buying once uncertainity of Fed hike is over and also combination of global cues. Brent Crude is at lowest in 11 year. FII's bought 37 crores and DII bought 67 crores and Rupee has shown lot of strength and has closed at 66.34.

Nifty is back to zone of 7840-7880 whcih I specified before as strong supply zone and we can expect any move only if it crosses this level for 7940 and 7980-8000 levels and on the lower side below 7720 for two days we could see 7640 and 7550.

BankNifty has shown lot of character and it is pillar of strength for Nifty as we have seen good moves in most of the banks and as stated before aslong as we trade 16700 it is fine and we may head towards 17000 and if breaches 17700 we could touch 17500 again and lower levels.

For the day we could open flat and our Asian peers are trading in slight negative bias and I think the trend for the day will be known if we wait for first 30 minutes and I feel if 7860 we could see 7880 and higher levels and on the lower side 7800 will act as support.

Top picks for the day are ICICIBank,Axisbank,M&M,Idea,IGL,M&M,BEL, GodrejInd,Infy,BharatForge,KSCL,Gail and JustDial

Market view for Dec, 21st

Om Namashivaya :

Nifty's high is below yesterday close and has traded weak through out the day and shown downtrend most of the day. and it is not surprising as stated by me before we have clear resistance or supply zone in 7840-80. What we have seen is 7 crores selling by FII's and DII's were sellers of 405 crores. Worlds markets are trading very weak and especially US markets closed deep in Red with correction of nearly 2% and so picture is not looking good.

I stated before that 7840-80 is strong resistance or supply zone and it has acted as expected, but now key is how strong it is. For the day I stated below 7800 we could test 7780 and 7760 levels for the day, but it infact we are on the way to 7700 levels which is key level to look at. BankNifty is once again is weak link and may continue to behave this way before finding support, but key is holding 16500 levels.

Option data is indicating highest OI and also increase in OI, but % wise highest increase in 7900 calls and also in 8100 calls. 7500 puts continue to have highest OI, but there is decrease in OI in it. Option data is not indicating weakness, but global weakness is going weigh on it, but as of now I dont see it going below 7700 and if it holds I think we may see strength in Nifty again. Nifty has again gone below 20 MA which is bearish for very short term and continue to trade below 50,100 and 200 MA since last 2 weeks.

For the day world market are trading weak and we may open weak with some gap down and I feel 7700 will act as support and 7780 will act as resistance.

Top picks for the day are Titan,BEL,Glenmark,Divis,Relinfra,JustDial, Ultracemco,SBIN,AjanthaPharma and IndusIndbank

Inox Leisur for investment

Inox Leisur is my Diwali pick till next Diwali holding for a return of 30% minimum at 227

Inox wind for long term holding

Inox wind is one more company I am very positive if one can hold for year term. It is into providing wind power infrastructure and is a competitor and as of now very much focused on Gujarat, Rajasthan and MP marekt and slowly getting into AP with large investment.

Suzlons loss is InoxWinds gain and it has improved by leaps and bounds and is having 1000 MW pending order which is 7 times current execution capability. Recent results are awesome and Govt focus on alternative energy source will help this company a lot. Company is also getting into Solar power which is new dimension.