Monday, February 22, 2010

Fcpo wrap...back above 2600 but slow...



-Is fkli snatching fcpo players ? Vol very thin.

-fcpo reverse a 2-day pullback with the help of external factors. Internally, mkt does not seem to care much for most of the day. Maybe players were disappointed with weak export estimates( -8% for 1-25th feb) Mkt saw light buying interest again after 5.30 pm to push it back above 2630.

-May10 is back to its recent highs and looks good for a move towards 2700 or even 2800. the current momentum is supported above 7SMA. So, stay bullish with this premise.



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