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K. Premkumar

Bears prevailed over Monday's trading activity. The sentiment reading of the tradable counters remains bearish.

Bull move on Tuesday is likely to change the sentiment reading in their favour.

NIFTY FUTURES

The March contract opened with a bear gap of around 90 points from its previous close.

The March contract moved within a range of around 113 points making an intraday low of 3515.

The March contract closed with a loss of around 158 points from its previous close.

Click here for table

The short position in the March contract remains intact and has a locked profit of around 380 points.

The short exit and long entry levels are placed far away from its last traded price. These levels are unlikely to be triggered during Tuesday's trading.

STOCK FUTURES

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

Reliance Industries and Tata Steel moved up in the ranking while IDBI and Hindalco moved down.

The top-3 tradable counters in this segment were Reliance Industries, SBI and SAIL.

All the counters in the top-10 tradable list are in downtrend.

ICICI is the only counter which is likely to be terminated during Tuesday's trading. This counter is in downtrend.

Bull move on Tuesday is likely to reverse the prevailing trend in this counter.

CASH SEGMENT

The composition and ranking of the top-10 tradable list had minor changes. SBI gave way to SAIL. SAIL occupied eighth position in the ranking.

ICICI, Hindalco and Tata Steel moved up in the ranking while Zee Tele and Satyam moved down.

The short exit level for Bajaj Auto and SBI are placed at 2503.05 and 1003.05 respectively.

All the counters in the top-10 tradable list are in downtrend. Satyam is likely to be under threat for Tuesday's trading.

The only buying opportunity exists in Satyam. This counter is in downtrend. Bull move on Tuesday is likely to reverse the prevailing 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.

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