Financial Daily from THE HINDU group of publications
Tuesday, Oct 25, 2005
Financial Daily from THE HINDU group of publications Tuesday, Oct 25, 2005 |
|
|
|
|
|
|
|
Markets
-
Technical Analysis Bear domination K. Premkumar
MONDAY'S trading activity witnessed bear domination. However, the sentiment reading of the tradable counters remains mildly bullish. Further bear domination on Tuesday is likely to change the sentiment reading in their favour. On the contrary, the prevailing bullish sentiment is likely to be strengthened. Nifty futures recommendation: The October month contract opened with bull gap of five points. However, bulls could not capitalise on their initial momentum and gave way to bears during the day's trading. The October month contract moved within a range of 63 points making an intraday low of 2387.40. It closed with a loss of around 58 points from its previous close. Bear domination during the day had no impact on the long position in the October month contract. The exit and sell levels for the October month contract are placed quite nearer to its last traded price. These levels are likely to be triggered during Tuesday's trading. Stock futures recommendation: The composition of the list had no changes. The ranking of the top-10 tradable list had minor changes. State Bank and Reliance interchanged their positions. Infosys moved to sixth position and Tata Motors occupied fifth position. The top three tradable counters in this segment were Reliance, Satyam and State Bank. All the uptrend counters in the top-10 tradable list are likely to be under threat for Tuesday's trading. All the downtrend counters are in safe. A lone buying opportunity is likely to exist in Hind Lever. Five selling opportunities are likely to exist on the bear side. The best for Tuesday's trading is likely to be the buying in Hind Lever. This counter is in side ways. Bull pressure on Tuesday is likely to initiate fresh uptrend in this counter. Cash segment: The composition and the ranking of the top-10 tradable list had minor changes. India Bulls went out of the top-10 tradable list and gave way for Ranbaxy Labs. Reliance Capital and Reliance Industries interchanged their positions. Infosys occupied fourth position and McDowell occupied fifth position. SRF moved to sixth position. The short exit level for India Bulls is placed at 185.05. All the uptrend counters in the list are likely to be under threat. The downtrend counters in the list are likely to be safe. There are no buying opportunities on the bull side. There are ample selling opportunities on the bear side. The best for Tuesday's trading is likely to be the selling in State Bank. Bear domination on Tuesday is likely to initiate downtrend in State Bank. (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.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
