The Hindu Business Line : Bull domination

Nifty Futures Recommendation: The November contract gapped up by 5 points and made a high of 1815.80. Bears could not make any impact on the day's trading.

The intra-day movement in the November contract was around 16 points. It closed higher with a gain of around 16 points.

Bull domination during the day led to the initiation of the uptrend in the November contract.

Both the exit and bearish trigger levels are placed quite far away and is unlikely to be triggered on Wednesday.

Stock Futures Recommendation: The composition of the top-10 tradable list remained unchanged. However, the ranking of the list had few changes.

Infosys moved to the fourth position followed by Tata Motors and ONGC.

Maruti and State Bank interchanged their ranking.

The top three traded counters in this segment were Reliance, Tata Steel, and Maruti.

Bear pressure on Wednesday is likely to terminate all the uptrend counters in the tradable list.

On the other hand, both the downtrend counters in the list are under threat for Wednesday. Buying opportunities are likely to exist in five counters in the tradable list.

Bears are likely to have opportunities in almost six counters in the list.

The best bet is likely to be the buying in ONGC. It is in sideways. Bullish trigger level for this counter is placed quite near to its closing price.

Bull pressure on Wednesday is likely to initiate fresh uptrend in ONGC.

Cash Segment: There were no changes to the composition as well as ranking of the top-10 tradable list.

All the uptrend counters in the list are under threat for Wednesday's trading.

On the contrary, lone downtrend counter Satyam is likely to be terminated on Wednesday.

Bears are likely to have opportunity in six counters.

Buying opportunities are likely to exist in four counters.

Buying in ONGC is likely to be the best for Wednesday's trading.

Bull pressure on Wednesday has the potential to trigger the uptrend in this counter.

(Note: All price levels refer to the absolute value of the shares traded on the NSE. There is risk of loss in trading.)

(The author is a technical analyst and fund management consultant.)