Market Outlook and Trading Calls for 27Jun07

Nifty: 4285.70 +26.30 Points Sensex: 14501.08 +13.36 Points

FII Activity:
Cash Segment: 241.46 crores net sellers
Index Futures: 322.36 crores net buyers
Stock futures: 392.35 crores net sellers

Advance Decline ratio: 580:498

Outlook for 27Jun07:
Finally, yesterday both the Sensex and Nifty closed above my desired level of 14500 and 4270. I am bullish in this market for next few days for Sensex target of 14750 and Nifty target of 4350. The US markets are cautious ahead of the fed meet for the next two days. If the Asian markets trade in positive it should be sufficient for us to open in the positive and short covering will do the rest. In that case expect a blast upto 4320 today itself. Reliance Industries is silent for the last few days and it is time for it to participate in the next rally. For today, the Nifty should find resistance at 4305-4326-4339 and should take support at 4280-4256-4256.

Futures Trading Calls:

Buy ABB if sustains above 4850 for target 5000.
Buy Bharti Airtel if sustains above 855 for target 867.
Buy Crompton Greaves if sustains above 258 for target 265.
Buy GAIL at current levels for target 315.
Buy Kesoram Industries at current levels for target 424.
Buy Reliance Communications at current levels for target 537.
Buy Suzlon if sustains above 1445 for target 1510.

Sell Amtek Auto if closes in negative today for target 390.
Sell HPCL if sustains below 260 for target 254 and 244.

Cash Market Calls:

Buy Bartronics at current levels for target 151.
Buy Bell Ceramics if sustains above 15 for target 18.
Buy Ramco Industries if sustains above 843 for target 1010.
Buy Talbros Auto Comp if sustains above 66.60 for target 71.
Buy Valecha Engg if sustains above 273 for target 288.

Points to Note:
1. All calls are for swing trading and should ideally hit the target within 5-6 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.