Wednesday, March 18, 2009

FKLI : Recap 847.0/855.0/846.0/854.0/+12.5

FKLI went ahead of cash ( 847.9/+6p) on technical buying following a break above 7SMA. Regional all positive. But DJ futs negative throughout,-20 to -40.

Cash also managed to stay above the 7SMA. 7SMA now acts as support. Both market is now a buy market but gains for the rest of week is likely to be limited aorund 860 or 14SMA.

Next week, a mini rally can be expected if the market manage to hold above 850, more so if cash finishes above 850.




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