Outlook and trading calls for 14Mar07

Nifty: 3770.55 +35.95 Points Sensex: 12982.98 +80.35 Points

FII Activity:
Cash Segment: 24.61 crores net sellers
Index Futures: 418.95 crores net sellers
Stock futures: 74.05 crores net sellers

Advance Decline ratio: 781:248

Outlook for 14Mar07:
Expect blood bath on the dalal street today. Markets are all set to open gap down today. All the major global indicies and the asian markets are deep in the red. You can see that yesterday the markets went up and the FIIs sold in all segment. This is first sign of weakness. Our markets are not as badly poised as other markets and there is all the possibility that it will bounce back from the lower levels. For today Nifty should take support at 3715 and 3657 and should face resistance on 3782 and 3801.

Futures Trading Calls:

Sell Reliance Communications at current levels for target 405.
Sell IDFC at current levels with stop loss 91.10 for target 84.

Cash Calls:

No Calls today.

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.