Outllok and Trading calls for 29Dec06

NSE Nifty : 3970.55 -3.70 BSE Sensex : 13846.34 -13.35

Advance Decline ratio - 5:6

FII Activity:
Cash Segment : 1022.55 crores net sellers
Index futures : 231.37 crores net sellers
Stock Futures : 321.11 crores net buyers

Outlook for 29Dec06:
The opening in the market might be flat but might close strong today as the first day of the January contract begins today. There are 26 new stocks being added to the F&O segment from today. Notable stocks are Bajaj Hindustan, Balrampur Chini, JP Associates and Tata Teleservices (Maharastra) Ltd. The Nifty might take support at 3941 and 3926 and might find resistance at 3985, 4002 and 4036.

Trading calls for 29Dec06:

There are no calls in futures segment today.

Cash Calls:
Buy Classic diamonds above 525.00 with stoploss 496.00
Buy Harrison Malayalam at current levels for target 86.00 and 96.00
Buy Jayasree Tea above 140.50 for target 147.00 and above.
Buy Mcleod Russel above 103.50 for target 110.00 and above.

Hold your long positions in (Price in brackets is the stop loss):
Ashok Leyland(41.00), BEL(1244.00), Bharti(590.00), Dr.Reddys(773.00), India Cements(219.00), Jet Airways(590.00), Polaris(150.80) and Satyam(449.00).

Hold your short positions in (Price in brackets is the stop loss):
HLL(233.00) and Suzlon (1333.00).

Pease note that if no prices are mentioned in brackets then there is no stop loss reqiured currently. Stop losses would be provided at appropiate levels. Keep checking the stoplosses. It is updated everyday.

Disclaimer: The recommendations provided would be purely on my personal opinion and doesnot reflect any fund house interest or my personal holdings. I would not be responsible for the loss in trades undertaken based on my recommendations.