Nifty: 3917.35 +87.50 Points Sensex: 13384.08 +270.27 Points

FII Activity:
Cash Segment: 238.50 crores net buyers
Index Futures: 355.29 crores net buyers
Stock futures: 216.53 crores net buyers

Advance Decline ratio: 696:348

Outlook for 16April07:
Unlike expectations, the markets are steadily marching ahead with the help of global markets. The Chinese market continues to make new highs. Metal stocks are looking good, particularly steel. Tata steel and Sail had good gains in the previous week. The Infosys guidance was not disappointing which helped the other tech stocks to do well. As the results season unfolds the markets seem to gain further in the very short term. The medium term outlook still looks negative. After Cement it is the turn of the construction stocks to bounce back. For today, the Nifty should find some resistance at 3936-3957-3996 and should take support at 3893-3861-3834.

Futures Trading Calls:

Buy M&M if sustains above 751 for target 800.
Buy Parsvanath Developers at current levels of 290 for target 338.
Buy Sobha Developers at current levels of 824 for target 880.

Cash Calls:

No Cash Calls for today.