The words, 'all' and 'no' are used together is a sentence to contrast two things or qualities. Eg: 'All bark, no bite'; 'All work, 'no play', etc. The words which contrast one another in the given sentence are: 'talk' and 'action'. Hence, the correct sequence of the phrases in the given sentence is: 'All (in part Q) and 'talk and no action' (S). i.e 'Q-S'. In all the given options except option B, these two phrases are not together. Hence, all the other options are incorrect.
In option A, the beginning sequence, 'He is going to (P) talk and no action (S)' is grammatically incorrect because there is no verb following the conjunction 'and'.
The normal sequence in a sentence in active voice is: Subject followed by verb and then object. In option C, the beginning sequence 'Lose weight (T) Ajay says that (R)' is grammatically incorrect as the sentence begins with a verb without mentioning the subject of the sentence earlier.
In option D, the beginning sequence, 'He is going to (P) but he is all' is grammatically incorrect because it is incomplete. It does not convey what the subject 'He' is going to do.
Given the above, options A, C and D are incorrect.