>Daily Calls (ICICI DIRECT)

Sensex: We said, "watch the low at 10800 as crucial, holding which, up-trend remains intact. Moveabove 11070 would confirm that." Though Index dipped below 10800, the same was immediatelybought into, from where Index recovered a huge 600+ points. Realty / Cap. Goods / Small-Capsoutperformed. A/D was 8:1.
The action formed Engulfing Bull candle, indicating strong support on any sort of dip. It also takes theIndex above its 200-day EMA, now touching upper end of the Green channel. With the huge surge,however, short term technical position appears overbought. Some profit-booking, as a result, cannotbe ruled out.

To see full report: CALLS 160409