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Global Outlook:

* The market is expected to open on a positive note due to several favourable factors. A rally in the global market, better-than-expected Q3 results from companies like ICICI Lombard, Wipro, Tech Mahindra, and Kotak Bank, easing geopolitical tensions in the Gulf, and a decline in the US Dollar and 10-year G-Sec yield, driven by expectations of a rate cut by the US Federal Reserve, could lift market sentiment.

* US stocks closed higher on Friday up to 1.5%, with the S&P 500 and Dow posting their largest weekly percentage gains by 3.5% since early December.

* Sugar stocks could be in focus due to the government’s decision to allow the export of 10 lakh metric tonnes of sugar.

* Positive quarterly results from IT companies are likely to lift tech stocks.

* Gift Nifty is flat to positive

Fundamental Pick: (Duration 1 Year)

Kotak Mahindra Bank  : Buy

(CMP : 1759, TP: 2100)

Technical View:

* NIFTY (Bearish- CMP : 23203) Nifty immediate support is at 23000 then 22900 zones while resistance at 23333 then 23500 zones. Now till it holds below 23333 zones, weakness could continue towards 23000 then 22900 zones while hurdles are placed at 23333 then 23500 zones.

* BANK NIFTY (Bearish- CMP : 48540) Bank Nifty support is at 48000 then 47750 zones while resistance at 48750 then 49000 zones. Now till it holds below 48750 zones some weakness could be seen towards 48000 then 47750 levels while on the upside hurdles are seen at 48750 then 49000 zones.

Technical Idea:

BDL :  Buy

(CMP 1276    SL 1225    TP 1380)

Derivative View:   

* Option Buying: Buy weekly Nifty 23100 Put if it holds below 23333 zones. Buy Bank Nifty 48100 Put till it holds below 48750 zones.

* Option Strategy: Nifty weekly Bear Put Spread (Buy 23100 PE and Sell 22950 PE) at net premium cost of 40-45 points. Bank Nifty Bear Put Spread (Buy 48300 PE and Sell 47700 PE) at net premium cost of 150-170 points.

* Option Writing: Sell weekly Nifty 22400 PE and 23850 CE with strict double SL. Sell Bank Nifty 46000 PE and 51200 CE with strict double SL.

Quant Picks:

Quant Intraday Sell Idea:

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