Trading Calls for 24Jan07

NSE : 4066.10 -36.35 points BSE: 14041.24 -168.00

FII Activity:
Cash Segment : 126.71 crores net buyers
Index Futures : 30.74 crores net buyers
Stock Futures : 510.31 crores net sellers

Advance Decline Ratio : 269:733

Outlook for 24Jan07:

Markets came down significantly today. FIIs are continously selling stock futures which means that there is a definate correction round the corner. However, Nifty has a strong support base of 4046-4040. If this is broken decisivley then it might come down to 4004. On the higher side it might face resistance at 4101 and 4140.

Futures trading calls:

Sell Aurobindo Pharma below 699.00 for target 687 and 670
Sell Bank Of India below 195 for target 190

Buy Orchid Chemicalsat current levels for target 236.00

Cash Calls:

Buy KPIT Cummins above 159.50
Buy Trigyn Technologies above 31.75
Buy RNRL above 27.75 with stoploss 24.50 for target 34 and 41

Hold your long positions in (Price in brackets represents stop loss):
CNX IT(5495.00), Nifty Futures, Divis Lab(3070.00), Federal Bank(250.00), IVRCL, Jet Airways, Maharastra Seamless(500.50), Orchid Chem(202.00), Polaris(201.00), Relaince Industires, Relaince Energy, TCS(1258.00) and Wipro(609.00).

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

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.