Nifty: 3843.50 +91.50 Points Sensex: 13177.74 +321.66 Points

FII Activity:
Cash Segment: 493.36 crores net buyers
Index Futures: 429.40 crores net buyers
Stock futures: 181.27 crores net buyers

Advance Decline ratio: 868:187

Outlook for 10Apr07:
There is no major reason for the markets to go up this way. Yesterday’s move was totally unexpected. Most of the global majors were closed on Friday and a few on Monday too. The markets have gone up without any support from the international markets. The gainers were steel, cement and banks which were hammered earlier. One can say that yesterday’s move was backed by short covering rather than guanine buying. On the contrary, have a look at the FII figures. They were net sellers of 497 crores on Thursday and net buyers of 429 crores on Monday. Are they booking losses at these levels is the question. In any case it is advisable to stay out and not take huge positions in this market. Invest less then 50% of your capital only. Wait for the Infosys guidance later this week. For today the Nifty should face resistance at 3893-3910-3960 and should take support at 3832-3796-3772.

Futures Trading Calls:

Buy Corporation Bank if sustains above 277 for target 290.
Buy Orchid Chemicals at current levels with stop loss 268 for target 286.
Buy Gujarat Alkalies and Chem if sustains above 130.50 for target 142.
Buy IPCL if sustains above 278 for target 297.
Buy ITC if sustains above above 157 for target 161.
Buy Praj Industires if sustains above 432, can go up till 500.

Cash Calls:

Buy Lyka Labs if sustains above 36 for target 44.
Buy Samtel Color if sustains above 26 for target 32.