Trading Calls for 22Jan07

Nifty: 4090.15 -18.90 Points Sensex: 14182.71 -35.04 Points

FII Activity:
Cash Segment: 125.19 crores net buyers
Index Futures: 553.13 crores net sellers
Stock futures: 90.97 crores net sellers

Advance Decline ratio: 303:703

Outlook for 22 Jan 07:
The markets are still not looking very confident. Looks like there will be some correction before it starts moving up again. Most of the giants have already announced their results except for SBI and ONGC. For today the Nifty will take support at 4070-4040 and might find resistance at 4101-4140.

Futures Trading Calls:

Buy IVRCL if sustains above 411.00
Buy MTNL if sustains above 173.00
Buy Zee Tele if sustains above 300.50 for target 308 and above

Cash Calls:

Buy Adhunik Metalinks above 41.50 for target 49.00
Buy Astra Microwave products above 184.00 for target 194.00 and 216.00
Buy MTNL if sustains above 173.00
Buy Teledata Infomatics at current levels for target 41.00

Hold your long positions in (Price in brackets represents stop loss):CNX IT(5495.00), Nifty Futures, Divis Lab, Federal Bank(244.00), Maharastra Seamless(500.50), Orchid Chem(202.00), Polaris(201.00), Relaince Industires, TCS(1258.00) and Wipro.

Hold your short positions in (Price in brackets represents stoploss):
Ultratech Cement

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.