Very encouraging finish for the week despite early fears of a closing below 7SMA. Almost the same story for the last 5-day - limited upside as fbm a drag but resilient to prevent major profit take selling. It seemed "buystops at 1216" created the feel good positive factors today.
Many retail players are waiting near 1200++ to long but given its resilient this week, above 7SMA, its advisable to raise their bids if mkt gain further traction on Monday. A breakout 1225 buy is recommended ahead of Oct/4Q and 2010’s budget.
If Sep09 stays between 1215 n the breakout line, tak payah trade. Dont sell if above 1220.
No comments:
Post a Comment