Equity Market Outlook by CapitalVia

Equity Market Outlook by CapitalViaMarkets remained choppy, market's full  focus was  on the derivative expiry on Thursday, rupee movement against the dollar amid other global cues. Nifty Dec Fut  started its journey with bullish sentiment, it managed to hit 6383 mark and closed at 6370 on a positive note with the gain of 77.85 bps led by the rupee getting stronger at 62.30  per dollar.

For next week Nifty Jan   Fut can manage  to show some bull run as technically it is looking  strong on charts, and is forming broadning pattern, it is sustaining above  its 10 and 50 days moving average giving further indication for  upside movement. If Nifty Jan  Fut manages to cross it major resistance level of 6385 it can test the levels of  6455 and 6520 Its important Support level to watch is 6265, breaching of this can take Nifty to 6145 Mark.

Stocks to watch on:

RANBAXY FUT:- Technically stock is looking very strong on charts, its overall trend is up, it  is forming a pennant pattern on its daily chart there by indicating trend continuation in upcoming sessions,  and more over stock is sustaining above its 10 and 50 days moving average. One can take fresh long positions in Ranbaxy fut long above 475 for tgts of 482

SSLT FUT:- Technically stock is looking strong on charts, it is very well sustaining above its rising trendline, thus further upward movement can be expected in it. One can take fresh long position above the level of 210 for tgts of 215.