K. Premkumar

Tuesday’s trading activity witnessed volatile movement. The sentiment reading of the tradable counters continues to remain bearish.

Bull domination on Wednesday is likely to change the sentiment reading in their favour. On the contrary, the current sentiment reading is likely to be strengthened with additional counters.

The April month contract opened with a bull gap of around 34 points from its previous close.

The April month contract moved within a range of around 199 points. The April month contract closed with a gain of around 43 points from its previous close.

The short position in the Nifty April month contract is intact.

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

The composition and the ranking of the top-10 list had no changes. Except Reliance Industries and Reliance Energy all other counters in the list are in downtrend.

Bull move on Wednesday is likely to terminate SBI, NTPC, Hindalco and Infosys. Buying opportunities are likely to exist in Reliance Industries, SBI, NTPC, Hindalco and Infosys. There are no selling opportunities for Wednesday’s trading. The best among the above is likely to be buying in SBI. This counter is in downtrend.

Bull move on Wednesday is likely to reverse the existing trend in this counter.

The composition and the ranking of the top-10 list had minor changes.