Trading Calls for 23Jan07

Nifty: 4102.45 +12.30 Points Sensex: 14209.24 +26.53 Points

FII Activity:
Cash Segment: 217.76 crores net buyers
Index Futures: 288.24 crores net buyers
Stock futures: 84.86 crores net sellers

Advance Decline ratio: 474:526

Outlook for 23 Jan 07:
Mid cap Pharma stocks are looking good. Looks like the markets will rally further up today. Be cautious at every higher level. The world markets are trading weak. The Nifty will take support at 4068 and has a strong support at 4040-4045 levels. It might face resistance at 4140 and 4185.

Futures Trading Calls:

Buy Infosys if sustains above 2270.00
Buy ITC if sustains above 179.50
Buy Jet Airways at current levels. This time it is all set to touch the 920 levels.
Buy Reliance energy at current levels with strict stop loss 499.

Cash Calls:

Buy Elder Pharma if sustains above 434.00
Buy Glenmark Pharma if sustains above 670.00
Buy Jet Airways at current levels. This time it is all set to touch the 920 levels.

Hold your long positions in (Price in brackets represents stop loss):CNX IT(5495.00), Nifty Futures, Divis Lab, Federal Bank(250.00), IVRCL, Maharastra Seamless(500.50), Orchid Chem(202.00), Polaris(201.00), Relaince Industires, TCS(1258.00) and Wipro(609.00).

Hold your short positions in (Price in brackets represents stoploss):
GNFC and Ultratech Cement.

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.