Outlook and trading calls for 12Jan07

Nifty: 3942.25 +91.95 Points Sensex: 13630.71 +268.55 Points

FII Activity:
Cash Segment: 24.66 crores net sellers
Index Futures: 1003.43 crores net buyers
Stock futures: 70.40 crores net buyers

Advance Decline ratio: 727:263

Outlook for 12 Jan 07:
Do not be fooled by yesterday’s up move. It was purely short covering. The larger market is still weak compared to midcap and small cap. Think to go long in Nifty only if it sustains above 3960.00 levels. It will take support at 3911, 3890 and far support at 3830. Above 3960 it will face resistance at 3983 and 4040.

Futures Trading Calls:

Buy ABB above 3605 for target 3780
Buy Federal Bank above 241.50
Buy GMR Infra above 360.00 for target 390.00
Buy HCL Tech above 613.50 for target 620 and 636
Buy India Cements above 237.40 for target 244.00
Buy NTPC above 140 for target 143.50 and 148.00
Buy Satyam above 493.00 for target 520.00
And the best of the lot is
Buy TCS above 1312.00 looking very good above this level.

Sell Corporation Bank below 304 for target 300 and if sustains below more downside left.
Sell Oriental Bank of Commerce below 209.50
Sell Reliance Industries with stoploss 1320 for target 1240

Cash Calls:

Buy Deccan Aviation above 161.60
Buy IDFC above 83.20
Buy Tech Mahindra above 1810.00
All the three are looking to enter into new territory.

Buy Cambridge solutions if sustains above 140.00 for target 151.00
Buy Mirza Intl above 197.30

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):
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.