Hi all
Dear Seniors,
I was reading the report in Hindu business line and am quite confused with the same. Kindly tell me what the auther is saying. It is not written on what basis he is saying what he is saying, can anone tell more about the same
Here is the link for table
http://www.thehindubusinessline.com/2006/12/23/stories/2006122304041300.pdf
"
Bull run continued over Friday's trading activity. The sentiment reading of the tradable counters changed to bullish. Bear move on Monday is likely to change the sentiment reading in their favour. On the contrary, the prevailing bullish sentiment is likely to be further strengthened. "
This Appers to me only a chance without anything technical.
Is my view true ?
The short position in the December month contract exited and entered long. The long exit and short entry levels are placed quite far away from its last traded price.
What are long exits and Short entry levels for Tuseday
STOCK FUTURES
The composition and the ranking of the top-10 tradable counters had no changes. The top-3 tradable counters in this segment were Tata Steel, Century Tex and India Cements.
All the counters in the top-10 tradable list are likely to be under threat for Monday's trading.
Why and what is basis
There are two buying opportunities likely to exist at Bank of India and Tata Motors. On the other hand, there are ample selling opportunities for Monday's trading.
The best is likely to be selling in State Bank of India. This counter is in uptrend. Bear move on Monday is likely to reverse the existing trend in this counter.
What is basis for this
The composition and ranking of the top-10 tradable list had no changes. There are four uptrend and six downtrend counters in the top-10 tradable list. Three uptrend and five downtrend counters are likely to be terminated during Monday's trading. There are each five opportunities on both the sides of trading.
What can be basis for this
The best is likely to be buying in BHEL. This counter is in downtrend. Bull move on Monday is likely to reverse the prevailing trend in this counter.
???
The report in the end says
The author is a technical analyst and fund management consultant.