Nifty: 4120.30 -14.00 Points Sensex: 13929.33 -36.53 Points

FII Activity:
Cash Segment: 283.63 crores net sellers
Index Futures: 113.30 crores net buyers
Stock futures: 292.98 crores net sellers

Advance Decline ratio: 537:532

Outlook for 16May07:
Yesterday the markets failed to recover in the later half and closed in the negative. The advance decline ratio is 1:1 and the FII’s remain to be net sellers in equity and stock futures. Today our markets can open flat and can gain momentum as the day progresses. Sector wise Banking and Oil marketing companies are looking strong, automobile stocks are looking for a bounce back and the technology sector is looking weak. Watch out for SBI and ICICI Bank today. The global markets have mixed trend and no cues available from them. The nifty should find resistance at 4147-4164-4180 and should find support at 4107-4087-4070.

Futures Trading Calls:

Buy Bank Nifty at current levels for target 6250.
Buy Aban Offshore if sustains above 2460 for target 2550 and 2650.
Buy ICICI Bank at current levels for target 935.
Buy Tata Tea if sustains above 840 for target 875.

Cash Calls:

Buy Pantaloon Retail if sustains above 448 for target 475 and 490.
Buy Rain Calcing if sustains above 35.25 for target 39.
Buy Repro India if sustains above 119 for target 140.

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.