>Daily Calls (ICICI Direct)

Sensex: We said, "One may remain positive, but trade cautiously at higher level." Caution paid off as Index reacted over 200 points from its highs, at least twice intra-day. While Sensex closed flat, Realty / Metals / Banks and even broader market outperformed. A/D ratio cooled down, though it was still
positive at 2:1.
The action formed a bear candle, but an UP day with higher high & higher low compared to previous day. Each segment of rally post-8047 showed consecutive five higher highs, before correcting couple of days. Failure to cross day's high of 10932 can, therefore, lead to a similar development. Cautiously positive otherwise.

To see full report: CALLS 130409