The Hindu Business Line : Bull run continues

The bull run continued during Friday's trading activity. The sentiment reading of the tradable counters remains bullish. Bear domination on Monday is likely to change the sentiment reading in their favour. On the contrary, the prevailing bullish sentiment is likely to be further strengthened with additional counters.

Nifty Futures: The April month contract opened with a bull gap of around seven points.

It moved with in a range of around 43 points, clocking an intra-day high of 3,423.

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The April contract closed with a gain of around 12 points from its previous close.

The April month contract entered a fresh long position in the morning session.

The long exit and short entry levels are placed quite far away from its last traded price.

In the normal course of trading these levels are unlikely to be triggered during Monday.

Stock Futures: The composition and the ranking of the top 10 tradable list had minor changes.

Satyam went out of the list, giving gave way to Ranbaxy. Tata Steel moved up to fourth position and Reliance moved down to sixth position.

Infosys and HLL interchanged their positions. The top three tradable counters in this segment were Reliance Capital, Tata Steel and SRF.

All the existing positions in the counters are likely to be terminated during Monday's trading.

There are four opportunities on the buy side and ample opportunities on the sell side.

The best is likely to be selling in Reliance Capital. This counter is in uptrend.

Bear pressure on Monday is likely to trigger the downtrend in this counter.

Cash Segment: The composition of the top 10 tradable list had no changes. However, the ranking of the list had minor changes. HLL moved up to fifth position, while Satyam moved down to 10th position.

All the counters in the top 10 tradable list are likely to be terminated during Monday's trading. There are two opportunities on the buy side and ample opportunities on the sell side.

The best is likely to be selling in SAIL. Bear pressure on Monday is likely to reverse the existing trend 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.