Trading calls for 07Mar07

Nifty: 3655.65 +79.15 Points Sensex: 12697.09 +282.05 Points

FII Activity:
Cash Segment: 489.57 crores net sellers
Index Futures: 1337.93 crores net buyers
Stock futures: 245.29 crores net buyers

Advance Decline ratio: 487:542

Outlook for 07Mar07:
Relief rally underway. If it was a bounce back there would not have been selling in equities by FIIs. I would still suggest exit longs at higher levels. For today the Nifty should take support at 3620 and 3550. It should face resistance at 3680 and 3715. A lot depends on the global markets. If the asian markets trade in the positive then we would open in the positive. The factor to look for is the close.

Futures Trading Calls:

Buy Punj Lloyd if sustains above 780 for target 860.

Sell Bank Of India if remains below 148 for target 132.
Sell BEL at higher levels with stoploss 1550 for target 1350.
Sell IFCI at current levels for target 20.
Sell NDTV at current levels for target 275.

Cash Calls:

No calls for 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