Trading calls for 02Mar07

Nifty: 3811.20 +65.90 Points Sensex: 13159.55 +221.46 Points

FII Activity:
Cash Segment: 483.14 crores net sellers
Index Futures: 59.61 crores net sellers
Stock futures: 554.33 crores net buyers

Advance Decline ratio: 470:547

Outlook for 02Mar07:
Markets bounced back as expected. It is expected to continue going up today as well. I expect the markets to go up till Monday morning on short covering. The downfall will resume again on Monday. Use this time to book profits in all your long positions and exit. The markets will slowly and surely drift down the entire month. For today the Nifty should take support at 3780-3715-3670 and should face resistance at 3830-3860-3894.

Remember: If the markets were really strong then it will not give a chance to buy at lower levels. FIIs have sold equity worth 3500 crores in last 4 days.

Futures Trading Calls:

These are the scripts which are expected to fill the gap either today or Monday morning. Please exit on Monday morning if it fails to reach target.

Buy CNX IT at current levels for target 5410.
Buy Nifty futures at current levels for target 3870.
Buy Divis Labs at current levels for target 3150.
Buy Polaris at current levels for target 196.
Buy Tata Motors at current levels for target 820.

Cash Calls:

Buy feders Lloyd if sustains above 118 for target 130.

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.