Trading calls for 03Jan07

Nifty : 4007.40 +41.00 Points Sensex : 13942.24 +155.33

There is nothing much to write about FII activity as the FIIs are not back from their holiday and the volumes are very much below average.

Advance Decline ratio : 3:1

Outlook for 03 Jan 07:
The markets are trading with very low volumes and can turn anyside, but presently it is looking upward and might continue to do so till the result season starts. For today the Nifty will take support at 3965 and 3934 and will face resistance at 4039 and 4083. The level of 4000 is crutial for determining the trend of the markt for today.

Futures Trading Calls:

Buy Cummins India at current levels for intraday target of 292.00
Buy Orchid Chem above 206.00 for target of 213.50
Buy Punj Lloyd above 1085.00 for target of 1125.00 with SL of 1030.00
Buy Satyam Comp above 515.00

Cash Calls:

Buy JB Chem and Pharma above 99.40 for target 105.00 and 110.00
Buy Orient Paper above 615.00 for target 634.00 and 655.00

Hold your long positions in (Price in brackets is the stop loss):
Ashok Leyland(41.00), BEL(1244.00), Bharti(610.00), Dr.Reddys(786.00), India Cements(226.00), Jet Airways(590.00), Polaris(164.00), Satyam(470.00) and STAR(338.00).

Hold your short positions in (Price in brackets is the stop loss):
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.