Outlook and trading calls for 11Jan07

Nifty: 3850.30 -61.10 Points Sensex: 13362.16 -204.17 Points

FII Activity:
Cash Segment: 797.34 crores net sellers
Index Futures: 414.13 crores net sellers
Stock futures: 235.07 crores net sellers

Advance Decline ratio: 268:741

Outlook for 11 Jan 07:
Like yesterday’s outlook, today also the previous low of 3841.00 is crucial for intraday trend of the market. The Nifty will take support at 3810.00 and 3785.00 and will face resistance at 3893.00 and 3911.00 levels. There is a recovery possible in the afternoon today on account of Infosys results, global trend and short covering.

Futures Trading Calls:

Buy IDBI above 80.00 for target 85.00

Bank stocks are looking weak.
Sell Bank Nifty below 5680.00 for target 5500.00
Sell ABB below 3450 for target 3425 and 3365
Sell Bharti Airtel below 598 for target 589 and 570.

Cash Calls:

Buy Max India above 966 for target 1005 and 1045.
Buy Sandesh Ltd above 187.50 for target 200 and above
Buy Bharat gears if sustains above 67 for target 74.
Buy Blue Star at current levels with stop loss 208. Looking pretty good.
Buy IFCI at current levels for target 17.70 and 18.30
Buy NRC Ltd above 42.75 for target 47.50
Buy Pearl Global at current levels for target 172.00

Hold your long positions in (Price in brackets is the stop loss):
Orchid Chem(196.00) and Polaris(181.00).

Hold your short positions in (Price in brackets is the stop loss):
HLL(217.60) and Suzlon (1275.00).

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.