Friday, March 20, 2009

FKLi : Recap 857.5/860.5/850.0/860.5/+4.5


Cash H856.82/+4.64/+0.5%. Regional mixed, DJ futs mostly lower, about -50.
Despite range bound, both mkts ended at their upper ranges anticiapting a stronger next week. FKLI took lead from cash firm footing.

Market breath is positive, anticipating a run towards 870 first. 870 is a first stop to check cash perfomance. For a convincing run to 880, cash must break above 860 first.
Next week starts with a buy call first. For selling, 1) wait at resistance lvl , 870++ OR 2) sell if 850/7SMA breaks.


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