Trading Calls for 19Feb07

Nifty: 4146.20 +99.10 Points Sensex: 14355.55 +345.65 Points

FII Activity:
Cash Segment: 10.82 crores net sellers
Index Futures: 537.50 crores net buyers
Stock futures: 41.92 crores net buyers

Advance Decline ratio: 886:143

Outlook for 19Feb07:
The Nifty, inspite of yesterday’s move is in oversold territory. The downside is still not complete. The question is, when will it come down. Before the budget or after. The chart patterns suggests that it will resume correction only in march. Lets wait and watch. I recommend to trade in small quantities. The rumour in the market is that the indicies will make a new high before budget. For Monday the Nifty should take support at 4140-4107-4071 and should face resistance at 4167-4187-4235.

Futures Trading Calls:

HCL Tech is all set to touch 720 levels.
Wipro is in a all new territory. Buy if sustains above 690 with stoploss 656.

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

Cash Calls:

Buy Dharani Sugars if sustains above 27 for target 31 with stoploss 23.
Buy TV Today if sustains above 134 with stoploss 120.
Buy Gangothri textiles if sustains above 32 with stoploss 26 for target 40.

Hold your long positions in (Price in brackets represents stop loss):Bank Nifty (5500, target 5990), GMR Infra (388.00), Lanco Infra (185.00) and Wipro(656.00).

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.