Stock Calls for 12-June-2009

AfterÂ a 15 days break …. I’m back again…

Markets opened flat to lower yesterday on weak global cues. Market participants preferred to book profit at higher levels and refrained from taking fresh positions.
Sectors like IT, capital goods, Oil & Gas, PSU and power remained weak pulling down the overall market and turning the market sentiment negative. However, metal and auto sectors fared well and bucked the negative trend. The Sensex closed yesterday lower by 55 points, or 0.36%, to 15,411.
The Sensex rose 101 points at the dayâ€™s high of 15,568 in early trade. At the dayâ€™s low of 15,240, the Sensex fell 226 points in afternoon trade. The Nifty closed marginally down by 17 points or 0.38% to 4,637. Prominent brokerage houses feel that the emergence of profit booking by funds and retail investors after the Sensex climbed to a near 10-month high, mainly cut short the rally.

Markets may remain volatile and more profit taking may emerge and therefore, readers are advised to trade with caution and avoid making large positions.
Nifty Future Intraday
Buy Above 4670
Target 4710-4720
Stop loss4640