Tuesday, April 28, 2009

>Daily Calls (ICICI Direct)

Sensex: We said, "Previous resistances can attract profit-booking ... However, till Friday's low holds, positive bias should continue ... " Gap-down opening held Friday's low, encouraging recovery to previous highs, where profit-booking was seen. While Sensex ended flat thanks to ICICI Bank, Realty lost 2.7%. A/D turned -ve.

The action formed a bull candle but with an upper shadow, which is indicating suspected profitbooking at previous resistance. Monday's profit-booking got absorbed without violating Friday's low. Today, see if any profit-booking can hold Monday's low of 11176. Positive if it does, else Green support line can be tested.

To see full report: CALLS 280409