Nifty: 4085.10 +1.55 Points Sensex: 13928.33 +30.92 Points

FII Activity:
Cash Segment: 142.49 crores net sellers
Index Futures: 66.44 crores net sellers
Stock futures: 134.71 crores net sellers

Advance Decline ratio: 445:603

Outlook for 24Apr07:
It was very much evident from the yesterday’s market movement that it wanted to wait for the credit policy before deciding the trend. There are no global cues also this morning as the US closed negligibly in the red and the Asian markets also has a mixed trend. In my opinion, the possibility of rate hike is remote. The rollover of future positions continues as the April contracts expire on the 26th. For today the Nifty should take support at 4068-4046-4016 and should find resistance at 4108-4137-4168.

Futures Trading Calls:

Buy Aban Offshore if sustains above 2425 for target 2525.
Buy Maharastra Seamless if sustains above 566 for target 582.
Buy VSNL at current levels with stoploss 443 for target 463.

Sell Kotak Mahindra Bank if sustains below 488 for target 474.
Sell Maruti if sustains below 761 for target 734.

Cash Calls:

Buy Zenith Computers if sustains above 58.50 for target 65.

Please Note: All calls are for swing trading and should ideally hit the target within 8-10 trading sessions.