Outlook for 23Feb07:

Today is the crucial day for the markets. If the Nifty closes below 4040, then one can see more downside in the coming days. For sensex the crucial level is 13925. For today Nifty should face resistance at 4068 and 4100 and should take support at 3990 and 3966.Banking and cement stocks are looking weak. Cement can give a bounce back from these levels but looks like there is more downside left in banking sector.

Futures Trading Calls:

Buy BEL at current levels with strict stoploss 1575.00

Sell Jindal Stainless if remains below 119 for target 112 (***** 5star call).
Sell Bank Nifty if remains below 5600 for target 5500 and 5400.
Sell Allahabad Bank if remains below 75.50 for target 71.50
S ell Bank Of India if remains below 160.50 for target 158.50
Sell Jet Airways if remains below 675 for target 590.
Sell Reliance Communications if remains below 444 for target 425.

(Please ensure the mentioned stocks trade convincingly above/below the mentioned levels below entering into trade).

Cash Calls:

Buy India Infoline if sustains above 402.00 (*****5 star call)

Pease note that if no prices are mentioned in brackets then there is no stop loss reqiured currently. Stop losses would be provided at appropiate levels. Keep checking the stoplosses. It is updated everyday.