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K. Premkumar

Bulls prevailed on Monday's trading activity. The sentiment reading of the tradable counters remains bullish.

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

On the contrary, the prevailing bullish sentiment is likely to be further strengthened.

NIFTY FUTURES

April contract opened with a bull gap of around 33 points. The contract moved within a range of around 82 points. It closed with a gain of around 110 points from its previous close.

The long position in the April contract remains intact. The long exit and short entry levels are placed far away to its last traded price.

These levels are unlikely to be triggered during the normal course of trading on Tuesday.

STOCK FUTURES

The composition and ranking of the top-10 tradable list had no changes.

Click here for table

The top-3 tradable counters in this segment were Reliance, Tata Steel and TCS. The long exit level for ACC and Tata Motors is placed at Rs 755.95, Rs 731.45, respectively.

All counters in the top-10 tradable list are in up trend. There are six up trend counters in the top-10 tradable list that are under threat for Tuesday. There are six selling opportunities in the top-10 tradable.

The best among them is likely to be selling Satyam. This counter is in up trend. Bear move on Tuesday is likely to reverse the prevailing trend in this counter.

CASH SEGMENT

The composition of the top-10 tradable list had no changes, however, the ranking of the top-10 tradable list had minor changes. Tisco and Infosys, Reliance and Sail, Tata Motors and ITC interchange their position in the tradable list.

Except ITC all other counters are in up trend in the list. There are five up trend counters in the top-10 tradable list that are under threat for Tuesday. Five opportunities exist in sell side.

The best among them is likely to be selling SBI. This counter is in up trend. Bear move on Tuesday may reverse the existing trend.

(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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