The Hindu Business Line : Volatile movement

The August month contract moved with in a range of around 32 points making an intraday high of 3,405. It closed with a gain of around 13 points from its previous close.

The long position in the August month contract remains intact. Both the long exit and short entry levels are placed quite nearer to its last traded price.

These levels are likely to be triggered during Monday's trading.

Stock Futures

The composition of the top-10 tradable list had no changes. However, the ranking of the list had major changes.

Bajaj Auto, Tata Steel and i-flex Solutions moved up while ONGC, Infosys, Satyam and Tata Motors moved down.

The top-3 tradable counters in this segment were Reliance, Tata Steel and Sterlite Industries.

All the counters in the top-10 tradable list are in uptrend. All these counters are likely to be under threat for Monday's trading.

There are ample selling opportunities for Monday's trading.

The best is likely to be selling in BHEL. This counter is in up trend. Bear move on Monday is likely to reverse the existing trend in this counter.

Cash Segment

The composition and the ranking of the top-10 tradable list had no changes. All the counters in the top-10 tradable list are in uptrend.

All the counters in the list are likely to be under threat for Monday's trading. There are ample buying opportunities for Monday's trading.

The best is likely to be selling in Infosys. This counter is in uptrend. Bear move on Monday is likely to trigger the downtrend 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.