>Daily Calls (ICICI Direct)

Sensex: We said, "looks positive above 9706 ... Things can turn volatile on settlement day, though trend remains positive within rising channel." Index opened above 9706 with a gap. Initial volatility held the level, after which it surged further to upper channel, to end 3.8% higher. A/D ratio improved to 4:1.

The action formed a strong bull candle with a gap-up area, at 9706-9740, below its low. It was a strong action which closed at the psychological mark of 10K. Day's high at 10061 could be crucial today. Failure to trade above it could see lackluster trading, though trend remains positive as long as the gap-up area holds.

To see full report: CALLS 270309