Market Outlook and Trading Calls for 16Aug07

Nifty: 4370.20 -3.45 Points Sensex: 15000.91 -16.30 Points

FII Activity:
Cash Segment: 331.52 crores net sellers
Index Futures: 268.08 crores net buyers
Stock futures: 62.23 crores net sellers

Advance Decline ratio: 579:537

Outlook for 16Aug07:
Welcome to trading post the Independence day break. The markets were dull and boring on Tuesday as traders were not confident of keeping their positions open with a holiday in between. Today the markets are expected to be extremely choppy and Nifty can easily lose 100 points. The global markets are very weak and we will take a cue from them. For today, the Nifty should take support at 4325-4257-4255 and should find resistance at 4400-4428-4453.

Futures Trading Calls:

Buy Bongaingaon Refinery if sustains above 53.20 for target 55.50

Sell Bank Of Baroda at current levels for target 284.
Sell Canara Bank at current levels for target 248.
Sell JP Associates at current level with stop loss 880 for target 775.

Cash Market Calls:

Buy Emkay Share and stock Brokers if sustains above 125 for target 140.
Buy Hind Organic Chem if sustains above 54.10 for target 60.

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.