morning thoughts...

The year bygone ended on a high note and we start the new year and series on a lighter note with less oi at otm strikes 

Technically the markets may inch higher to test 17500 and 35800 on nifty and bank nifty respectively , however it stands near the resistance and cluster zones of 17662 and 36215 which may act as a supply zone for the markets , once the same is cleared a good spike may be witnessed

On the lower side good supports exists at 17250 and 35050 levels for the nifty and bank nifty , stock specific and sectoral moves will continue and unlike last year this year will witness sharp swings on both downsides and upsides so more focus has to be stock specific

The index is still trading above 200 dema and the midcap , small cap index is above the trendline and previous highs

Commodities remains a buy on dips in base metals , bullions and energy

Stocks to watch

Nifty and bank nifty as above

Buy hindalco 470 ce

Buy coal india 150 ce

Buy tata motors , tcs

Buy fortis , sanghvi movers

Buy crude, silver , gold mcx