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K. Premkumar

BULL run continues over Monday's trading activity. The sentiment reading of the tradable counters turned bullish. 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 November month contract opened with a bull gap of around 11 points. It moved with in a range of 55 points making an intra-day high of 2452.50. It closed with a gain of around 42 points from its previous close.

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The long position in the November contract remains intact. The exit and sell levels for the November month contract are placed quite for away from the last traded price. These levels are unlikely to be triggered during Tuesday's trading.

Stock futures recommendation: The composition and the ranking of the top-10 tradable list had no changes. The top three tradable counters in this segment were Tata Steel, Reliance and State Bank.

There are no downtrend counters in the list. All the uptrend counters in the list are likely to be under threat. For Tuesday's trading, all the levels are placed quite far away. The nearest level for Tuesday's trading is likely to be the selling in ICICI. Bear pressure on Tuesday is likely to initiate a fresh down trend in this counter.

Cash segment: The Composition of the list had no changes. The ranking of the list had minor changes. Satyam and Reliance interchanged their position. India Bulls occupied seventh position while Tata Steel moved down to last position in the top-10 tradable list.

All the uptrend counters in the list are likely to be under threat. There are two buying opportunities for Tuesday's trading. Selling opportunity is likely to exist in State bank. The best for Tuesday's trading is likely to be buying in State Bank. This counter is in side ways. Bull domination on Tuesday is likely to initiate long position 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.

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