Trading calls for 04Jan07

Nifty : 4024.05 +19.65 Points Sensex : 14014.92 +71.68

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 : 5:3

Outlook for 04 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 4004 and 3960 and will face resistance at 4042 and 4076.

Futures Trading Calls:

Buy Canara Bank above 293.00 for target 297.00 and 307.00
Buy Cipla above 261.00 for target 266.00 and 273.00
Buy GMR Infra above 389.50 for target 401.00
Buy Maharastra seamless at current levels with stoploss 485.00 for target 504.00 and above
Buy Ranbaxy above 420.00 for target 427.00 and 440.00

Sell ACC below 1065.00 for target 1035.00 and below.

Cash Calls:

Buy Geodesic Info Systems above 213.00 for target 240.00

Hold your long positions in (Price in brackets is the stop loss):
Ashok Leyland(41.00), BEL(1307.00), Bharti(610.00), Dr.Reddys(799.00), India Cements(226.00), Jet Airways(630.00), Orchid Chem(196.00), Polaris(164.00), Punj Lloyd(1030.00), Satyam(509.00) and STAR(361.00).

Hold your short positions in (Price in brackets is the stop loss):
HLL(221.00) 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.