Trading Calls for 16Jan07

Nifty: 4078.40 +25.95 Points Sensex: 14129.64 +73.11 Points

FII Activity:
Cash Segment: 304.04 crores net buyers
Index Futures: 526.88 crores net buyers
Stock futures: 153.08 crores net sellers

Advance Decline ratio: 637:359

Outlook for 16 Jan 07:
Nifty is set up for a good up move from here. I expect Nifty to go up to 4200-4250 in the near future. Steel stocks are looking hot and also some midcap cement stocks. For Tuesday the Nifty will take support at 4042 and 4017. It will face resistance at 4130 and 4159.

Futures Trading Calls:

Buy HDFC Bank above 1115.00 for target 1150.00 with stoploss 1045.00
Buy IDBI at current levels for target 98.00
Buy SAIL above 102.15
Buy VSNL above 476.00 for target 510.00

Sell Maruti below 901.00 for target 876.00

Cash Calls:

Buy Financial tech above 1990 for target 2200
Buy RIIL above 600.00 for target 680.00
Buy BAG films at current levels for target 17.35 and above
Buy BSEL Infrastructure above 77.00 for target 95.00
Buy Ispat Industries at current levels for target 18.30
Buy Jindal saw at current levels for target 452.00
Buy Shivalik Global at current levels for target 48.00

Hold your long positions in (Price in brackets is the stop loss):
CNX IT, Nifty Futures, Federal Bank(225.00), Maharastra Seamless, Orchid Chem(196.00), Polaris(181.00), Relaince Industires, TCS(1205.00) and Wipro.

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.