Trading calls for 18jan07

Nifty: 4076.45 -4.05 Points Sensex: 14131.34 +16.61 Points

FII Activity:
Cash Segment: 11.87 crores net buyers
Index Futures: 50.28 crores net sellers
Stock futures: 127.07 crores net sellers

Advance Decline ratio: 588:412

Outlook for 18 Jan 07:
The markets are trading with low volumes and in a narrow range. Looks like there is something waiting to happen. For thursday the Nifty will take support at 4062 and 4042. It will face resistance at 4101 and 4125.

Futures Trading Calls:
Buy BEL above 1345.00
Buy Iflex above 2201.00
Buy Divis lab above 3125.00

Sell Sterlite below 520.00 for target 500.00 and if sustains below can go down till 440.00

Cash Calls:

Buy Bharti Shipyard at current levels for target 455.00
Buy Genius Overseas Electronics at current levels for target 271.00
Buy Kernex Microsystems at current levels for target 217.00 and 225.00

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.