Trading Calls for 31Jan07

Nifty: 4124.45 -23.25 Points Sensex: 14211.96 -70.76 Points

FII Activity:

Cash Segment: 110.24 crores net buyers
Index Futures: 588.81 crores net sellers
Stock futures: 157.65 crores net sellers

Advance Decline ratio: 449:557

Outlook for 31 Jan 07:

The markets traded with low volumes on 29Jan07 due to the long week end and also there was no trading on 30Jan07. I expect the markets to be trading with good volumes from today. The worrying factor is the FII figures, which agian shows huge selling in Nifty futures and continued selling in stock futures. The Nifty should take support at 4116 and 4100 and should face resistance at 4140 and 4168.

Futures Trading Calls:

Buy Alok Industries above 73.00 for target 75.00
Buy Ashok Leyland above 49.00 for target 51.50 and 53.00
Buy IDBI above 105.50 for target 109.00
Buy NTPC above 145.00 for target 147.70 and 153.00

Sell Gujarat Ambuja Cementat current levels for target 132.00 and 130.00

Cash Calls:

Buy Bhagyanagar India Ltd above 42.00 for target 56.00

Hold your long positions in (Price in brackets represents stop loss):
CNX IT(5495.00), Nifty Futures(4064.00), Divis Lab(3075.00), IVRCL(390.00), Jet Airways (720.00), Maharastra Seamless(500.50), Orchid Chem(202.00), Polaris(217.00), REL(499.00), Relaince Industires(1355.00), TCS(1284.00) and Wipro(609.00).

Hold your short positions in (Price in brackets represents stoploss):
Ultratech Cement(1125.00)

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.