Trading calls for 22Dec06

There were no calls on 19th,20th and 21st Dec06 as I was on a vacation.

End of day summary:

NSE Nifty : 3833.50 +17.95 points
BSE Sensex : 13384.86 +44.65 points

FII Activity:

Cash - 253 crores net buyers
Index - 301 crores net sellers
Futures - 52 crores buyers

Outlook for 22Dec06:

Do not get fooled by yesterday's up move. This was just short covering. Today the markets will open on the higher side but later it will definately slide down. The NSE Nifty has resistance at 3858.00 and 3901.00 levels. It should take support at 3790.00 and 3727.00 levels. Most of the nifty stocks are looking weak. Bank stocks are looking weak aswell.

Trading calls for 22Dec06:

Sell Bank Nifty Futures below 5660.00
Sell ABB in futures below 3457.00 for target 3365.00
Sell BPCL in futures below 314.45 for target 303.50
Sell Hindalco in futures at current levels for target 166.00
Sell SBI in futures below 1183.00

Buy Maharastra Seamless in futures above 458.50 for target 481.00

Buy NIIT Ltd in cash at currentlevels. Technically looking very good.

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, Polaris(150.80) and Satyam(449.00).

Hold your short positions in (Price in brackets is the stop loss):
BPCL (329.50), Cipla(251.20), 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.