Market Outlook and Trading Calls for 14Jun07

Nifty: 4113.05 -42.15 Points Sensex: 14003.3 -127.92 Points

FII Activity:
Cash Segment: 294.16 crores net sellers
Index Futures: 848.58 crores net sellers
Stock futures: 449.07 crores net sellers

Advance Decline ratio: 432:646

Outlook for 14Jun07:
Again, following the trend from the past few days the markets lost a lot of points in the last few minutes of trade to close below the crucial level of 4140 and above the next support level of 4110. The FIIs have sold again yesterday taking their total for the last 6 days to 5000 crores. This suggests that the undertone in the market is weak. The global markets showed strength yesterday and we should open in the positive with a gap up opening. Short covering will push the market further up, but it is safe to short sell at all higher levels. Long term investors are still advised to stay out of the market as they will definitely get better levels in the coming days. For today, the Nifty should find resistance at 4148-4161-4180 and should take support at 4109-4078-4056.

Futures Trading Calls:

Buy HDFC Bank at current levels for target 1110 with stop loss 1068.
Buy NDTV at current levels for target 378.
Buy Nicholas Piramal at current levels for target 300.
Buy Rajesh Exports at current levels with stop loss 498 for target 528.
Buy Reliance Industries at current levels with stop loss 1670 for target 1705.

Sell Patni computers if sustains below 510 for target 495.
Sell Tata Power at higher levels with stop loss 585 for target 560.

Cash Market Calls:

Buy Aarti Industries if sustains above 33.25 for target 40 and 44.
Buy Pochiraju Industries if sustains above 28 for target 32 and 40.

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.