Trading calls for 15Dec06

End of day summary:
NSE : 3843.05 +77.85 points
BSE : 13487.16 +305.82 points
Advance Decline Ratio : 8:1

Outlook for 15Dec06:
The opening in the market will be definately strong. The Nifty will face resistance at 3860-3887-3920 levels. Be cautious at higher levels. I would suggest to cover all your long positions when Nifty is around 3880-3885 levels and wait to watch how the afternoon shapes up.

Buy BEL in futures above 1335.00 for target 1400.00
Buy Mphasis BFL in futures for intraday target of 262.00
Buy Reliance communication in futures for intraday target of 466.00
Buy Satyam in futures above 470.00
Buy SRF in futures above 190.50 for target of 199.00-205.00-210.00
Buy VSNL in futures above 401.00 for target 416.00

Buy Foursoft in cash above 70.50 for target 80.00

Hold your long positions in (Price in brackets is the stop loss):
Ashok Leyland, Bharti, Dr.Reddys, India Cements and Polaris(124.70).

Hold your short positions in (Price in brackets is the stop loss):
BPCL (329.50), Cipla(251.20), Corp Bank(335.00), Escorts(107.90), HLL(233.00),Suzlon (1333.00) and Tata steel.

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.