Trading Calls for 12Feb07

Nifty: 4187.40 -36.00 Points Sensex: 14538.90 -113.19 Points

FII Activity:
Cash Segment: 318.23 crores net buyers
Index Futures: 560.05 crores net sellers
Stock futures: 201.65 crores net sellers

Advance Decline ratio: 173:854

Outlook for 12Feb07:
Friday’s fall is just the beginning. There might be minor pull backs but there is more downside left. For Monday the Nifty level of 4200 is crucial. On the higher side it might face resistance at 4220 and 4240. On the lower side it should find support at 4170 and 4140.

Futures Trading Calls:

Sell Bank Of India if remains below 185 for target 180.
Sell Canara Bank if remains below 227 for target 217.
Sell Dr. Reddys at current levels for target 724 and 707.
Sell Gateway Distriparks if remains below 185 for target 172.
Sell IPCL if remains below 266 for target 256.
Sell MTNL if remains below 152 for target 144.
Sell Sesa Goa if remains below 1810 for target 1775 and 1740.
Sell SRF if remains below 181.50 for target 167.
Sell Tata Tea if remains below 680 for target 635.

(Please ensure the mentioned stocks trade convincingly above/below the mentioned levels below entering into trade).

Cash Calls:

Buy NELCO if sustains above 130.00 for target 140 and 152.

Hold your long positions in (Price in brackets represents stop loss):
CNX IT(5495.00), Divis Lab(3375.00), GMR Infra (375.00), Infosys(2310.00), Jet Airways (720.00), Maharastra Seamless(500.50), Orchid Chem(255.00), REL(542.00), 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.