Trading Calls for 06Feb07

Nifty: 4215.35 +31.85 Points Sensex: 14515.90 +112.13 Points

FII Activity:
Cash Segment: 463.44 crores net buyers
Index Futures: 608.39 crores net buyers
Stock futures: 166.83 crores net sellers

Advance Decline ratio: 565:449

Outlook for 06Feb 07:
I feel that the markets will peak out around 4240 and retrace from those levels. For today the Nifty should take support at 4180 and 4160. It should face resistance at 4240 and 4260.

Futures Trading Calls:

Buy IDBI if sustains above 110.50 or target 115.50

Cash Calls:

Buy Ashima Ltd if sustains above 11.20 for target 12.50 and 16.20
Buy Everest kanto cylinders if sustains above 852.00
Buy HFCL at current levels for target 40.00

Hold your long positions in (Price in brackets represents stop loss):CNX IT(5495.00), Divis Lab(3075.00), IVRCL(401.00), 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).

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.