Market Outlook and Trading Calls for 13Jun07

Nifty: 4155.20 +9.60 Points Sensex: 14130.95 +47.54 Points

FII Activity:
Cash Segment: 335.30 crores net buyers
Index Futures: 684.59 crores net sellers
Stock futures: 86.24 crores net buyers

Advance Decline ratio: 300:777

Outlook for 13Jun07:
Yesterday the markets did exactly the opposite of what it did on the last 2 days. The bulls gained momentum in the last half hour of trade and managed to close above the support level of 4140 even though it looked impossible around 2.45 pm. There is no much strength or upside in the market on an intraday basis as the global cues, yesterday’s advance decline ratio and the FII figures show negativity. In case the markets open in positive or if goes to positive territory during the course of the day, it is a good opportunity to sell. The ten year bond yields in the US are at its 5 year high. The Asain markets have followed them and opened in negative today. The cement sector is looking for a bounce back. For today, the Nifty should face resistance at 4170-4200-4220 and should take support at 4130-4111-4090.

Futures Trading Calls:
Buy Grasim if sustains above 2422 for target 2460.
Buy India Cements if sustains above 177 for target 190.

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.