The Hindu Business Line : Bull domination

Bulls dominated over Monday's trading activity. The sentiment reading of the tradable counters remains neutral. Bear domination on Tuesday is likely to turn the sentiment reading in its favour.

Nifty Futures Recommendation: The April month contract opened with a bear gap of around 18 points. It moved within a range of around 74 points making an intra-day low of 3426.10. It closed with a loss of around 33 points from its previous close.

The long position in the April month contract is intact. The long exit and the 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 on Tuesday.

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Stock Futures Recommendation: The composition of the top-10 tradable list had no changes. However, the ranking of the list had minor changes. Except ACC all other counters had a total revamp.

All the counters in the top-10 tradable list are likely to be terminated during Tuesday's trading. There are ample opportunities on the buy side and two opportunities on the sell side. The best is likely to be buying in IPCL. This counter is in downtrend. Bull pressure on Tuesday is likely to trigger the uptrend 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. VSNL moved down to fifth position and Satyam moved up to fourth position.

All the counters in the top-10 tradable list are likely to be under threat for Tuesday's trading. There are five opportunities on the buy side and two opportunities on the sell side. The best is likely to be selling in Infosys. Bear pressure on Tuesday 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.