Trading Calls for 01Feb07

Nifty: 4082.70 -41.75 Points Sensex: 14090.92 -121.04 Points

FII Activity:
Cash Segment: 268.81 crores net sellers
Index Futures: 513.59 crores net sellers
Stock futures: 339.23 crores net sellers

Advance Decline ratio: 288:719

Outlook for 01Feb 07:
Markets are looking weak only. FIIs are selling continuously. It has a good support at 4040-4045 levels. If trades convincingly below these levels then expect a huge correction. For today Nifty level of 4098 is crucial. On the upper side it should face resistance at 4110 and 4140 and on the lower side it should take support at 4067, 4045 and 4012.

Futures Trading Calls:

Buy Tata Tele services (M) if sustains above 25.00 for target 25.70

Sell Bank of India if trades convincingly below 187 for target 182
Sell Corp bank if trades convincingly below 301 for target 293
Sell IPCL if trades convincingly below 276 for target 272
Sell SAIL if trades convincingly below 105.50

Sell Suzlon Energy if closes 2 consecutive days below 1130, it can come down till 950 in the short term.

Cash Calls:

Buy TTML if sustains above 24.75 for target 25.50

Hold your long positions in (Price in brackets represents stop loss):CNX IT(5495.00), Divis Lab(3075.00), IVRCL(390.00), Jet Airways (720.00), Maharastra Seamless(500.50), Orchid Chem(235.00), Polaris(206.00), REL(499.00), Relaince Industires(1355.00), TCS(1258.00) 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.