Nifty: 4219.55 +48.60 Points Sensex: 14299.71 +172.40 Points

FII Activity:
Cash Segment: 517.75 crores net buyers
Index Futures: 1097.18 crores net buyers
Stock futures: 128.03 crores net sellers

Advance Decline ratio: 523:548

Outlook for 18May07:
The markets have reached my expected levels and will be over stretching if trades above 4250. If Nifty starts trading above 4250 use the levels to go short. The banking stocks are showing signs of tiredness and the Bank Nifty has also reached my target of 6250. Now, above 6300 is the area to go short. Real estate and construction stocks are still looking strong and can go up further. The cement stocks are gaining momentum and are ready for another round of upmove. ACC, Grasim, JP Associates and Ultratech cement are looking good. For today, I do not see a big move. The indices should trade and close mildly in positive or negative. The Nifty should face resistance at 4247-4275 and should take support at 4190-4174-4157.

Futures Trading Calls:

Buy Bata India if sustains above 179 for target 190 and 208.
Buy Nagarjuna Constructions at current levels with stop loss 171 for target 186.
Buy Parsvanath if sustains above 351 for target 385.
Buy Shoba Developers if sustains above 940 for target 965.
Buy Tata Motors if sustains above 765 for target 790.
Buy Ultratech cement if sustains above 858 for target 885 and 930.

Cash Calls:

Buy DS Kulkarni if sustains above 267 for target 280 and 297.

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.