Trading Calls for 02Jan07

NSE Nifty : 3966.40 -4.15 BSE Sensex : 13786.91 -59.43

FII Activity:
Cash Segment : 6.94 crores net sellers
Index Futures : 87.83 crores net sellers
Stock Futures : 172.21 crores net sellers

There was not much activity in the markets on friday. It traded with very thin volumes. The FII activity is also very poor. Looks like most them are on a holiday.

Outlook for 02Jan07:
We can see more action on Monday. The markets are expected to remain strong till the result season and we could see stock specific action from then on. The Nifty should take support at 3960-3940-3918 and sould face resistance at 3990-4007-4041.

Buy ACC in futures above 1115.00 for target 1157.00 and 1200.00
Buy Bank Of India in futures at current levels for intraday target of 212.00
Buy Bharat Forge at current levels for intraday target of 375.00
Buy VSNL above 434.00 for target 452.00

Sell Alok Ind below 67.75 with stoploss of 71.00

Cash Calls:
Buy Aarti Ind above 31.00
Buy BEML above 1035.00 for target 1075.00 and 1165.00
Buy D-Link India at current levels for target 105.00 and 113.00
Buy National Steel above 21.75 with SL 20.00 for target 23.50 and 25.50
Buy Shah Alloys above 166.00 for target 183.00 and 210.00 SL 142.00

Hold your long positions in (Price in brackets is the stop loss):
Ashok Leyland(41.00), BEL(1244.00), Bharti(610.00), Dr.Reddys(786.00), India Cements(226.00), Jet Airways(590.00), Polaris(164.00), Satyam(470.00) and STAR(338.00).

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.