Nifty: 3718.00 -43.65 Points Sensex: 12884.99 -164.36 Points

FII Activity:
Cash Segment: 412.37 crores net buyers
Index Futures: 240.95 crores net sellers
Stock futures: 113.37 crores net buyers

Advance Decline ratio: 465:553

Outlook for 12Mar07:
Overall the markets are looking weak only, but it can recover on Monday. The FIIs have bought on Friday’s fall which means it should recover on Monday. The levels of 3800-3850 is a major resistance and I donot see the indicies going past that level. Sell around these levels on a short term perspective. The support and resistance levels for Monday is given below:

Nifty Sensex

Resistance 3 3810 13350
Resistance 2 3783 13200
Resistance 1 3745 12960
Support 1 3670 12825
Support 2 3620 12600

Futures Trading Calls:

Buy M&M at current levels with strict stoploss 710 for target 785.

Sell MTNL below 140 for target 130. If unable to break 140 then buy for target 152.
Sell Orchid Chem at current levels with stoploss 240 for target 190.

Cash Calls:

No Calls today.

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.