Money Spinner - Trading calls in futures segment of Indian stock market

Thursday, November 09, 2006

Market summary and trading calls for 09Nov06

As expected the markets were very choppy yesterday and recovered in the fag end of the day. The upmove at the end of the day was pure short covering. The Nifty closed at 3777.30 with a loss of 22 points and sensex closed at 13072 with a loss of 84 points. Reliance Industries was a major contributor to the market fall. The FII figures for 08Nov06 are not very encouraging. FIIs were net sellers of 57 crores in the cash segment and 770 crores in the futures segment.

The outlook for 09Nov06 is not very positive. If the markets opens strong then the traders are advised to take short positions. The nifty may once again test the support levels of 3750 and 3730 today. Think to take long positions only if it sustains above 3795.

Trading Calls:

No intraday calls

Buy J&K Bank, Orchid Chemicals, Satyam Computers, Suzlon Energy at current levels for short term.
Buy SRF if sustains above 242
Buy TVS Motors if sustains above 105
Buy Bajaj Auto at lower levels for 2 days. Exit long on Friday.

Sell Bank Of Baroda, BPCL, Sterlite Industries at current levels for 3-4 days
Sell Hero Honda with stop loss 741

Exit long positions in Bharat Forge and Reliance Industries.

Hold on to your long positions in Cipla, Dr.Reddys, Gujarat Ambuja Cement, IFCI, IVRCL, Maharastra Seamless, Punj Lloyd and Sun TV.

posted by Moneyspinner at 1:25 AM

5 Comments:

  • can u suggest abt mutual funds..

    and other financial options for tax savings

    By Anonymous Anonymous, at 6:45 PM  

  • there is no technical analysis..
    but only suggestions for trading..

    u should give reasons for ur suggestions..
    ppl won't blindly put in their money..

    By Anonymous Anonymous, at 7:25 PM  

  • Please also give the effect of your suggestions. If you have suggested certain views on T0 on T1 you should provide the effect of your suggestions made on T0. That will help us give weight to your suggestions. Thanks...

    By Anonymous Anonymous, at 8:03 PM  

  • Hi,

    Your comment is well taken. Will try to implement it but the contraint is the number of calls provided and the space taken for every post will zoom up. Will definately find alternatives to make it more effective. Keep an eye on the posts.
    Thanks...Money spinner

    By Blogger Moneyspinner, at 11:08 PM  

  • Hi, I donot prefer to disclose the nature of the techincal analysis done, as yet. Would definately consider in the future. I donot recommend people to blindly put the money. A trader should follow the posts regularly and trade only after he/she is convinced that the calls are good enough to take positions.
    Thanks...moneyspinner

    By Blogger Moneyspinner, at 11:13 PM  

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