Trading Calls for 27Feb07

Nifty: 3942.00 +3.05 Points Sensex: 13649.52 +16.98 Points

FII Activity:
Cash Segment: 596.15 crores net sellers
Index Futures: 1036.11 crores net sellers
Stock futures: 219.24 crores net buyers

Advance Decline ratio: 506:510

Outlook for 27Feb07:
Yesterdays recovery in the afternoon session was just a eye wash. There is more downside left in the market. Even though technically it looks like a good recovery the FII figures are disturbing. They have sold an astonishing 2600 crores of nifty futures in the last 2 trading sessions. The nifty futures turned to 10 basis points premium from the 4 basis points discount yesterday. I would again request all of you to be cautious at higher levels. The budget is just round the corner it is advisable to stay out and watch the markets shape up. For today the Nifty should take support at 3917 and 3835. On the higher side it should face resistance at 3955, 4000 and 4040. Large cap technology stocks are looking weak.

Futures Trading Calls:

Buy Triveni Engineering if sustains above 44 for target 51.

Sell Infosys at current levels for target 2100.
Sell Wipro at current levels for target 565.
Sell HCL Tech below 641 for target 615 and 575.
Sell Bajaj Auto if remains below 2805 for target 2680 and 2480.

Cash Calls:

Buy JSW Steel if sustains above 495.

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

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.