Nifty: 4077.00 -34.15 Points Sensex: 13765.46 -113.79 Points

FII Activity:
Cash Segment: 205.41 crores net sellers
Index Futures: 77.72 crores net sellers
Stock futures: 63.18 crores net sellers

Advance Decline ratio: 278:780

Outlook for 09May07:
Yesterday the markets closed in the negative. The FII figures and the advance decline ratio suggest weakness in the markets. The pull back rally in cement stocks is over stretching and they can correct 8-10% from these levels esp., ACC and JP Associates are looking weak. The global markets were strong for the last 2-3 days and are now cautious ahead of Fed reserves decision on interest rate hike even though most of the analysts feel that the rate will be left unchanged. For today, the indices might open in the negative and crawl back to close in the positive. There is a big up move waiting to happen either on Thursday or Friday. The Nifty should take support at 4056-4043-4017 and should find resistance at 4100-4118-4148.

Futures Trading Calls:

Sell CESC if remains below 357 for target 345.
Sell Dr.Reddy’s if remains below 684 for target 640 and 620.
Sell HDFC if remains below 1595 for target 1550 and 1515.
Sell IFlex if remains below 2270 for target 2180.
Sell HPCL if remains below 280 for target 270 and 265.
Sell Orchid Chemicals if remains below 252 for target 245.

Cash Calls:

No Calls Today.

Please Note: All calls are for swing trading and should ideally hit the target within 8-10 trading sessions. Any calls other than swing calls will be specifically mentioned.