Market Outlook and trading Calls for 28Jun07

Nifty: 4263.95 -21.75 Points Sensex: 14431.06 -70.02 Points

FII Activity:
Cash Segment: 567.33 crores net sellers
Index Futures: 549.92 crores net sellers
Stock futures: 391.24 crores net sellers

Advance Decline ratio: 455:630

Outlook for 28Jun07:
Today the markets will open in the positive backed by good global markets. It will be very volatile as today is the expiry of June F&O contracts. It appears that this is the last opportunity for traders to cover long positions. It is advisable to avoid taking long positions in July series. It is advisable to sell Nifty 4300 calls around 100 rupees. Construction stocks are looking to make a come back and good amount of short covering is expected in technology stocks. For today, the Nifty might face resistance at 4292-4312-4328 and should take support at 4247-4230-4212.

Futures Trading Calls:

Aditya Birla Nuvo Buy if sustains above 1373 for target 1424
Sell if sustains below 1285 for target 1240 and 1210.
Buy Idea at current levels for target 129 with stop loss 118.50
Buy Kotak Mahindra Bank if sustains above 646 for target 680.
Buy Shoba Developers if sustains above 940 for target 983.
Buy Sterlite Opticals if sustains above 243 for target 256.

Sell Bajaj Hindustan if sustains below 151.50 for target 135.
Sell Bank Of Baroda if sustains below 255 for target 250.
Sell IDFC if manages to close below 129.50 for target 121.50
Sell Power Finance Corp if sustains below 140 for target 136 and 132.
Avoid Long positions in Punj Lloyd.
Sell Tata Chemicals if sustains below 239 for target 232.

Cash Market Calls:

Buy C&C constructions if sustains above 212 for target 225.

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.