>Daily Calls (ICICI Direct)

Sensex: We said, "upper shadow is indicating profit-booking ... see if can hold Monday's low of 11176. Positive if it does, else Green support line can be tested." Index couldn't hold 11176, as a result of which, it lost over 3% and tested the Green support line as suspected. Realty/Metals/Banks lost more, about 5%. A/D worsened to 1:9.

The action formed a Belt Hold Line Bear candle, which is bearish if selling continues below its low at 10961. Such an action would open downsides testing previous crucial support near 10719. On the other hand, protecting its low can appear as an attempt to hold the 31-day long Green support line.

To see full report: CALLS 290409