Nifty outlook & stock picks by Sameet Chavan: Buy Federal-Mogul, Grasim

Every 100 points upside level in Nifty should be treated as an immediate resistance and now this level comes at 15,800

Nifty Outlook

We had a flat start to the week on Monday and, in fact, in the initial trade, there was some mild negativity seen in the market. But, similar to the recent trend, the market absorbed the pressure and then resumed its upward momentum, once again, led by the giant RELIANCE. As the day progressed, the buying momentum continued to first reach the new milestone of 15,500 and in the final hour, 15,600 became the reality as well. Eventually, the Nifty ended the session with nearly a per cent gains. After a brief pause on the subsequent day, the Nifty