Market Outlook and Trading Calls for 03Jul07

Nifty: 4313.75 -4.55 Points Sensex: 14664.26 +13.75 Points

FII Activity:
Cash Segment: 94.57 crores net buyers
Index Futures: 544.80 crores net buyers
Stock futures: 63.12 crores net sellers

Advance Decline ratio: 600:502

Outlook for 03Jul07:
Yesterday, the markets traded in the positive territory till the last hour of trade where it lost most of its gains and closed flat. Today also the markets are expected to trade well in the positive territory as all the global markets are in positive. Construction and Infrastructure stocks did well yesterday and are expected to do well today also. The point to watch out for, is the close. The FIIs have bought 1500 crores in index futures in the last 3 days. There is definitely more upside left in the markets before it could take a U turn. Sensex level of 14900-15000 is possible in this week. For today, the Nifty should face resistance at 4325-4342-4363 and should take support at 4305-4290-4280.

Futures Trading Calls:

Buy IVRCL Infra if sustains above 393 for target 420 and 440.
Buy Nagarjuna Constructions if sustains above 194 for target 203.
Buy IOC if sustains above 465 for target 475 and 495.
Buy Parsvnath Developers if sustains above 356 for target 385.
Buy Sobha Developers at current levels for target 975.

Sell Hindalco if sustains below 156 for target 152.

Cash Market Calls:

Buy Era Constructions if sustains above 412 for target 465.
Buy Super Spinning if sustains above 20.90 for target 24.50

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.