Market Outlook and Trading Calls for 12Jun07

Nifty: 4145.60 +0.60 Points Sensex: 14083.41 +19.60 Points

FII Activity:
Cash Segment: 26.12 crores net sellers
Index Futures: 340.72 crores net buyers
Stock futures: 276.59 crores net buyers

Advance Decline ratio: 414:662

Outlook for 12Jun07:
Yesterday the markets repeated what it did on Friday by losing all its gains in the last half hour of trade. As expected 4140 is proving to be a very good support on a closing basis. Flat US markets and weak asian markets suggests that there is a good possibility that the Nifty might close that decisive level of 4140. Construction stocks are looking weak ahead of the DLF IPO. No great strength is displayed by banks as well. Ight now, it appears that only the technology sector will be the one to hold the markets. For today, the Nifty should take support at 4128-4110-4071 and should take support at 4160-4173-4186.

Futures Trading Calls:

Sell Bata if sustains below 161.50 for target 150.
Sell McDowell if sustains below 1095 for target 1068.
Sell Polaris if sustains below 161 for target 155.
Sell Tata Steel if sustains below 575 for target 565 and 550.

Cash Market Calls:

No calls for today.

Points to Note:
1. All calls are for swing trading and should ideally hit the target within 8-10 trading sessions. Any calls other than swing calls will be specifically mentioned.
2. The calls provided on day 0 holds good for the next 2-3 trading sessions if sustains above/below the mentioned levels.

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.