Stock and futures calls for 8th Feb 2010

While the whole market is in bearish mood. Many front running metal stocks are yet to have any weakness, there is a further rally likely to breach previous high levels.

Hindalco:
Buy above 143.00. Stop at 128.20 and a target of Rs. 167.00.

Sterlite:
Short above 772.50. Stop of closing above 805 and breach of high for a target of 708.00

Nifty:

Daily position:
Short above
4877.25
with a moving stop of 4992 and a target of 4593

Intraday Position:
Long above
4758
with a stop of 4687 and a target of 4995. Target may vary as the market starts moving. We will update changes.

Hold Existing positions in ICICI Bank, BPCL & Tata Sponge.