Market Outlook and Trading Calls for 10Jul07

Nifty: 4419.40 +34.55 Points Sensex: 15045.73 +81.61 Points

FII Activity:
Cash Segment: 841.64 crores net buyers
Index Futures: 843.33 crores net buyers
Stock futures: 95.54 crores net sellers

Advance Decline ratio: 691:411

Outlook for 10Jul07:
Monday was the reverse of Friday where the madcap and small cap stocks outperformed the large cap stocks. Tomorrow is the Infosys results and expect the markets to be in the cautious mood today. Markets might be range bound and boring today. Banking sector especially small PSU banks are in the party. The short term target for Nifty is 4460-4470 and I advise caution around these levels. For today, the Nifty might find resistance at 4436-4447-4453 and should take support at 4394-4386-4369.

Futures Trading Calls:

Buy Bank Nifty if sustains above 6960 for target 7140.
Buy BEL at current levels with stop loss 1850 for target 1920.

Cash Market Calls:

Buy Ind Swift Labs if sustains above 72.50 for target 84.
Buy KEI Industries if sustains above 92 for target 97 and 103.
Buy Samtel Color if sustains above 22.30 for target 27 and 31.

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 fails to sustain above/below the mentioned levels on day 1.

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.